The empire strikes back: the financialization of rental housing–a new frontier of accumulation and precarity
| Título | The empire strikes back: the financialization of rental housing–a new frontier of accumulation and precarity |
|---|---|
| Año | 2024 |
| Autor | Raquel Rolnik, Adriana Marín, Etien Jasonson |
| Filiación | Pontificia Universidad Católica de Valparaíso |
| Tipo de Publicación | Artículo en Revista Académica |
| Revista | Urban Geography |
| Indexación | ISI |
| Palabras Clave | Financialization of rental housing, corporate landlord, informal settlements, private rental sector, public private partnership, public policies |
| Área de Investigación | Extensión, Ciudad y Habitabilidad |
| URL | https://www.tandfonline.com/doi/abs/10.1080/02723638.2024.2355061 |
Abstract
The financialization of rental housing, driven by post-GFC financial contexts, sees assets concentrated in the hands of corporate landlords aided by technological innovations and state support. Foreclosures and evictions, especially in GFC-affected areas, enable corporate acquisition of property at bargain rates, followed by eviction strategies to increase turnover and rental prices, bypassing regulations. This upward distribution of value is supported by growing labor precarity, intertwined with rising rental prices globally. Labor market precarity, linked to stagnant wages, exacerbates housing precarity, creating new forms of accumulation by dispossession. The hypothesis suggests a convergence in “regulated deregulation,” blending formality and informality through financial processes, digital mechanisms, and public policies. Renting becomes a bridging mechanism, transforming housing into a service, managing time and income generation, with potential scalability through digital mechanisms. This marks a departure from historical constraints, potentially establishing unprecedented connections between informality and finance.
