The financialization of everyday life: Caring for debts

Karaagac, Esra Alkim

doi:10.1111/gec3.12541

Cited by 39 publications

(19 citation statements)

References 91 publications

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“…The larger body of scholarship on financialization consists of three traditions (French et al, 2011;Van der Zwan, 2014). These traditions highlight the transition from productive capitalist accumulation to a deepened dependence on financial profits and markets within economies, particularly in an Anglo-American context (Krippner, 2005), intraorganizational changes in the form of, for instance, corporate management centring on short-term shareholder values (Froud et al, 2000), and the embodied experience of financialization as involving the consumption of financial services and debt that moulds 'entrepreneurial investor subjects' (Hall, 2012, p. 405; see also Karaagac, 2020). However, in the following sections, I focus on the literature on rental housing and financialization.…”

Section: Previous Research On Financialization Of Rental Housing and Renovationsmentioning

confidence: 99%

Renovations as an investment strategy: circumscribing the right to housing in Sweden

Gustafsson

2021

Housing Studies

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There is an emergent field of writings on financialized landlords' undertaking of apartment renovations as an investment strategy and its effect on housing inequalities. Seldom do these studies contextualize these tendencies within countries' specific housing policy traditions. Therefore, through a qualitative case study in a neighbourhood in Sweden, this paper aims to uncover how private landlords undertake renovations as an investment strategy and its effect on tenants and, in turn, on the hybrid character of a universal housing system. It finds that renovations enable landlords to extract value from the built environment while tenants experience rising rents, a lack of information, poor property maintenance, and apprehension. Hence, I argue that renovations represent an investment strategy that serves to undermine the traditional social right to housing within a universal housing policy context. The paper thus furthers knowledge on how the situatedness of financialization tendencies entails their translation through and transformation of housing systems. 'gentrification-by-upgrading strategy' implemented by financialized landlords in Toronto, Canada. The present paper focuses on a smaller neighbourhood to uncover how renovations are carried out and how they affect tenants. Additionally, the paper understands such investment strategies as indicative of how financialization processes

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Section: Previous Research On Financialization Of Rental Housing and Renovationsmentioning

confidence: 99%

Renovations as an investment strategy: circumscribing the right to housing in Sweden

Gustafsson

2021

Housing Studies

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“…Another avenue for future research would explore this phenomenon as part of the financialization of housing across the life course, extract valuing from students, renters (August, forthcoming) and seniors living in retirement and long-term care facilities (Horton, 2019), and how value-grabbing (Andreucci et al., 2017) in real estate from cradle to grave drives indebtedness and affects well-being. There is an opportunity to explore the links between this financialization affecting people via real estate with the financialization of social reproduction, in which social policy retrenchment and neoliberal austerity are reshaping education, health care, care labour and survival, more broadly (Federici, 2014; Karaagac, 2019; Roberts, 2016).…”

Section: Resultsmentioning

confidence: 99%

Making a market for itself: The emergent financialization of student housing in Canada

Revington

August

2019

Environ Plan A

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This paper demonstrates the infiltration of finance into increasingly niche real estate sectors, taking the example of the emergent Canadian purpose-built student accommodation (PBSA) sector since 2011. Drawing on a novel database of PBSA, qualitative document analysis, and key informant interviews, we uncover the business strategies and geographic patterns of investment in the sector. We then consider the local impacts of this phenomenon in Waterloo, Ontario, the country’s largest PBSA market, where finance-driven new-build studentification has contributed to higher housing costs and age segregation. This process of financialization has differed from other housing sectors as it depends on the creation of new student housing to provide an avenue for investment therein. At the same time, finance-driven new-build studentification functions as a spatial fix by directing investment to secondary cities. However, this process has been fragile, marked as much by failure as success, pointing to the limits of financialization.

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“…We make this argument by drawing together established literature on financial geographies with scholarship rooted in racial capitalism and intersectional perspectives on the workings of financial capitalism. The field of financial geography, which studies the spatial dynamics of money and finance, has grown rapidly since the 2008 GFC (Aalbers, 2015; Karaagac, 2020; Lai, 2017). This work has sought to understand the spatial aspects of an increasingly powerful financial sector by exploring global financial networks (Lai, 2018; Töpfer, 2018), the roles of international financial centers (Poon, 2003; Wojcik, 2013), the cultures of elite financial actors (Hall, 2007), and “how finance shapes everyday life within contemporary capitalist societies” (Lai, 2017: 6).…”

Section: Public Finance In the Literaturementioning

confidence: 99%

Reimagining geographies of public finance

August

Cohen

Danyluk

et al. 2021

Progress in Human Geography

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The study of public finance—the role of government in the economy—has faded in geography as attention to private finance has grown. Disrupting the tendency to fetishize private financial power, this article proposes an expanded conception of public finance that emphasizes its role in shaping geographies of inequality. We conceptualize the relationship between public and private finance as a dynamic interface characterized today by asymmetrical power relations, path-dependent policy solutions, the depoliticization of markets, and uneven distributional effects. A reimagined theory and praxis of public finance can contribute to building abolitionist futures, and geographers are well positioned to advance this project.

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The financialization of everyday life: Caring for debts

Abstract: This paper examines current research on financialization in economic geography through the lens of recent feminist interventions in the financialization of social reproduction. Although the financialization literature provides new perspectives by interrogating everyday household economies,

Cited by 39 publications

References 91 publications

Renovations as an investment strategy: circumscribing the right to housing in Sweden

Renovations as an investment strategy: circumscribing the right to housing in Sweden

Making a market for itself: The emergent financialization of student housing in Canada

Reimagining geographies of public finance

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