The Financialization of Housing Production in Brussels

Romainville, Alice

doi:10.1111/1468-2427.12517

Cited by 43 publications

(34 citation statements)

References 34 publications

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“…These developments demonstrate quite different trends to those observed by Romainville (, this issue) concerning real estate firms in Belgium. As she argues, the most financialized real estate firms in that country tend to avoid risk and stick to the safety of ‘what they know’, i.e.…”

Section: Changing Funding Mechanisms Of Real Estate Companiescontrasting

confidence: 72%

Financialization of Housing in Brazil: New Frontiers

Pereira

2017

Int J Urban Regional Res

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The financialization of housing has been increasingly identified as an important driver of social and economic change in contemporary capitalism. Focusing on the Brazilian context, this article considers the extent to which recent changes in housing regulations, policies and markets confirm or challenge narratives about the financialization of housing in the international academic debate. I argue that while many of the trends stressed in the literature are apparent, more extreme processes of financialization within the Brazilian housing sector remain limited--not only because of institutional and regulatory constraints, path dependence or political resistance, but also because of fundamental structural conditions of Brazil's position as a peripheral economy. Three different but mutually reinforcing processes are scrutinized in order to evaluate the financialization of housing and its limits in Brazil: the re-regulation of the real estate financial sector initiated in the 1990s; the changing funding patterns among real estate companies since the mid-2000s; and the increasing commodification of housing induced by a large-scale and heavily subsidized housing program launched in 2009.

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Section: Changing Funding Mechanisms Of Real Estate Companiescontrasting

confidence: 72%

Financialization of Housing in Brazil: New Frontiers

Pereira

2017

Int J Urban Regional Res

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“…In Brazil, real estate companies rely increasingly on capital markets as a funding source (Pereira, this issue). In Brussels, we see financial institutions creating real estate subsidiaries, as well as developers taken over by financial institutions (Romainville, , this issue).…”

Section: Housing In the Financialization Literaturementioning

confidence: 99%

The Variegated Financialization of Housing

Aalbers

2017

Int J Urban Regional Res

296

178

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“…Another, closely related, has been to measure it, to analyse the depth and extent of financialisation. Two examples of studies with this second objective, from different periods and measuring different dimensions of financialisation, are those by Beauregard () and Romainville (). A third concern has been to examine in detail the actual processes of financialisation, and thus to understand how exactly it is occurring.…”

Section: The Financialisation Of Urban Development: Toward a Conjunctmentioning

confidence: 99%

Putting financialisation in its financial context: Transformations in local government‐led urban development in post‐financial crisis England

Christophers

2019

Trans Inst British Geog

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The burgeoning geographical literature on the financialisation of urban development has focused predominantly on the growing importance within this sphere of financial markets, motives, and institutions. This article starts from the observation that in examining such financialisation, scholars have paid insufficient attention to the details of the financial contexts within which it takes place. Through a consideration of certain high-profile ongoing transformations in the property strategies of English local authorities, the article argues that we need to put urban financialisationin this case, state-led variants thereofin its financial context: it needs to be understood as a response, at least in part, to specific financial conjunctures. After several decades of effective withdrawal, many local authorities have assumed a resurgent role in urban property ownership and development in recent years, and especially since the global financial crisis. This resurgence is apparent, albeit selectively, in regard to both commercial and residential property. On the one hand, local authorities have been rebuilding portfolios of investment (i.e., non-operational) commercial property; on the other hand, they have been building new homes, typically not for social rent, through arms-length housing companies. I argue that understanding these trends requires appreciation of local authorities' particular financial circumstances in the "post-crisis" eratheir operation at the intersection of devolved austerity, reformed housing finance, and unconventional monetary policyand of the constraints and opportunities that these circumstances shape.England, financial crisis, financialisation, housing, local government, urban development | INTRODUCTIONOver the past decade, geographers and planning scholars have been at the forefront of what during that period has developed into a vast, variegated, and still rapidly expanding literature on financialisation. One strand of that literature within which the work of economic and urban geographers and planners has been especially prominent and influential concerns the financialisation of urban development. In theoretically generative and empirically rich studies of cities in North America and Europe in particular, Rutland (Trans Inst Br Geogr. 2019;44:571-586.wileyonlinelibrary.com/journal/tran | 571 attention to, and sought to understand and interrogate, the increasing role of financial actors, markets and logics in some or all elements of urban development processes.This article engages with and seeks to make a critical contribution to that geographic literature through a consideration of local government-led financialisation of urban development in England in the period since the global financial crisis of 2007-2008. It focuses on two vectors of such financialisation. One of these involves a sharp increase in levels of local authority ("council") investment in non-operational commercial property such as shopping centres, designed to generate positive financial returns. The other involves councils...

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The Financialization of Housing Production in Brussels

Cited by 43 publications

References 34 publications

Financialization of Housing in Brazil: New Frontiers

Financialization of Housing in Brazil: New Frontiers

The Variegated Financialization of Housing

Putting financialisation in its financial context: Transformations in local government‐led urban development in post‐financial crisis England

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