55 research outputs found
Despite Brexit and Trump, London and New York real estate will remain a safe deposit box for transnational wealth elites
The flow of money from the super-rich or wealth elites into real estate in global cities like London and New York have left analysts wondering whether this is a temporary surge or a deeper transformation of real estate markets. The rebellion against globalization, illustrated by Brexit and the election of Donald Trump, makes this an even more pressing issue. Rodrigo Fernandez, Annelore Hofman and Manuel B. Aalbers argue that to understand the geography of wealth elites, we need to look at the underlying mechanisms of global inequality, such offshore finance and the role of global cities as real estate investment locations
Socializing space and politicizing financial innovation/destruction: some observations on Occupy Wall Street
This short paper discusses two issues related to the Occupy Wall Street movement. First, a local urban political geography is presented in which Liberty Plaza is not the accidental place of Occupy Wall Street but a deliberate one, not only because it is located between the towers of global capital, but also because it constitutes a so-called âprivately owned public spaceâ (POPS). Second, a global financial political geography is presented in which I argue that the imprecise demands of Occupy Wall Street are a result not so much of the heterogeneous base of the movement but of the still largely unknown and âunder-understoodâ nature of finance.Ce court article est consacrĂ© Ă deux problĂšmes liĂ©s au mouvement âOccupy Wall Streetâ. En premier lieu, nous prĂ©sentons une gĂ©ographie politique urbaine au niveau local dans laquelle le choix de la Plaza Liberty nâest pas accidentel mais bien dĂ©libĂ©rĂ©, non seulement en raison de sa localisation entre les tours du capital global mais Ă©galement parce que cette place reprĂ©sente un âespace public aux mains du privĂ©â. Dans un second temps, nous proposons une gĂ©ographie politique de la finance globale, oĂč nous dĂ©fendons lâidĂ©e que les revendications assez floues du mouvement âOccupy Wall Streetâ rĂ©sultent non pas tant du caractĂšre hĂ©tĂ©rogĂšne de sa base mais plutĂŽt de la nature mĂȘme de la finance, encore largement inconnue et âsous-compriseâ
Cuban Migrants and the Making of Havana\u27s Property Market
The emerging literature on the globalization of real estate has addressed how internationally circulating capital has increasingly found its ways into housing markets of the Global South . With relatively underdeveloped financial and real estate markets, these countries have discursively and materially been rebranded as emerging markets, that is, they have been shaped into frontiers in the global urbanization of capital. In this paper we scrutinize the transnational real estate networks that shape and reshape the Cuban housing market. First, we reconstruct how, following the 2011 legalization of housing prices set between buyers and sellers, Cuban migrants and a few foreign investors, in cooperation with Cubans residing in Cuba, are buying properties in Cuba\u27s cities, beach resorts and other towns. Second, we explore the economic and extra-economic motives behind such transnational property transactions, highlighting how residential properties are bought and converted into private restaurants or hotels. Central to our analysis is that the present development is not simply shaped by local or national demand and processes but also by international investment. We contend that a pattern of economic globalization unfolds where transnational remittances, rather than institutional investments or mortgage finance, steer Cuba\u27s emerging property market, along with local investments among Cuban citizens
Capital Market Union and residential capitalism in Europe: Rescaling the housing-centred model of financialization
This article examines the effects of implementing the proposals of the European Commission to institute a Capital Market Union (CMU) on the diverse landscape of residential capitalism in Europe. The CMU will bypass existing national institutional blockades that left core countries of the Eurozone, namely Germany, France and Italy, largely untouched by the housing-centred model of financialization that developed in countries like Spain, Ireland, the UK and the Netherlands. It is widely acknowledged that the rise in securitized mortgage debt contributed to the global financial crisis. As part of the CMU, the new European Commission is promoting mortgage securitization throughout the EU and thereby rescaling the political economy of housing finance that was hitherto rooted in national, institutional models. We argue that countries which âmissedâ the previous housing boom will not be able to prevent future housing-centred financialization. CMU thus signifies a spatial expansion of the debt-led accumulation model
A Habitação no Centro da Economia PolĂtica
A economia polĂtica do pĂłs-guerra nĂŁo tem, de um modo geral, atribuĂdo um papel importante ao tema da âhabitaçãoâ. A habitação enquanto polĂtica tem sido um exclusivo da anĂĄlise das polĂticas sociais e do domĂnio crescente dos estudos da habitação. A habitação enquanto mercado tem estado confinada Ă economia ortodoxa. Este artigo insiste no facto de a anĂĄlise da economia polĂtica nĂŁo poder permanecer relativamente indiferente Ă questĂŁo da habitação, jĂĄ que esta estĂĄ envolvida na economia polĂtica capitalista contemporĂąnea atravĂ©s de uma sĂ©rie de aspectos crĂticos, interligados e muitas vezes contraditĂłrios. O artigo conceptualiza esta implicação, identificando os mĂșltiplos papĂ©is da habitação quando o âcapitalâ â a âmatĂ©ria-primaâ essencial da economia polĂtica â Ă© considerado a partir da perspectiva de cada uma das suas formas primĂĄrias e mutuamente constitutivas: como processo de circulação, como relação social e como ideologia. Ao mobilizar estas trĂȘs Ăłpticas com vista a facultar uma perspectiva geral crĂtica da habitação-na-economia-polĂtica (mais do que uma economia polĂtica da habitação), reunimos e conjugamos os vĂĄrios contributos fundamentais da pesquisa sobre a habitação para o nosso entendimento progressivo do capitalismo
What if we all work in between? Notes on the geography of geographical knowledge production and consumption
In the field of geography, âwhere you areâ matters more than in most other fields. Yet, we are only beginning to write the geography of geographical knowledge production and consumption. The paper âNeither here nor there or always here and there?â (Wray et al., 2013) is an important building block in creating such a geography. It is important to realize that almost all of us are, in some way or another, in between. Since no geographical location is only normal or exotic, we should continue and intensify our
efforts to decenter and deperipheralize our fieldstatus: publishe
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