The Financialization of A Social Housing Provider
Bibliographic Data
| ID | 4884699 |
|---|---|
| Authors | Manuel B Aalbers (0000-0001-6640-0988, Division of Geography & Tourism KU Leuven/University of Leuven Celestijnenlaan 200e – bus 2409, 3001 Leuven Belgium, corresponding author), Jannes Van Loon (Division of Geography & Tourism KU Leuven/University of Leuven Celestijnenlaan 200e – bus 2409, 3001 Leuven Belgium, corresponding author), Rodrigo Fernandez (0000-0003-0241-2730, Division of Geography & Tourism KU Leuven/University of Leuven Celestijnenlaan 200e – bus 2409, 3001 Leuven Belgium, corresponding author) |
| Year | 2017 |
| Volume | 41 |
| Issue | 4 |
| Pages | 572-587 |
| Publication date | 2017-07-01 |
| Peer Reviewed | Yes |
| Open Access | Yes |
| Type | ARTICLE |
| Venue | International Journal of Urban and Regional Research (JOURNAL) |
| Journal identifiers | ISSN: 0309-1317 • E-ISSN: 1468-2427 |
| Publisher | Wiley (PUBLISHER • GB) |
| DOI | 10.1111/1468-2427.12520 |
| OpenAlex | W2759236119 |
| Language | EN |
| Citations received | 110 |
| References cited | 44 |
Why does a social housing provider bet on interest rate fluctuations? This article presents a case study of the financialization of both housing and the state. Social housing in the Netherlands is provided by non-profit housing associations that have since 1989 been set apart from the state. Many associations started developing housing for profit, borrowing on global capital markets or buying derivatives. Whereas other semi-public institutions moved into the world of finance due to financial constraints, housing associations did so to capitalize on the possibilities offered by their asset-rich portfolios. Vestia, the largest of them all, is an extreme--but not exceptional--case of what can happen when public goals are left to be realized by inadequately supervised and poorly managed private organizations. As a result of gambling on derivatives, Vestia had to be bailed out to the tune of over 2 billion euros. To recoup the losses, housing was sold off and rents were raised. Almost half of Dutch housing associations used derivatives, although most refrained from using them purely speculatively. The changes in the housing sector that led to its financialization cannot be separated from the wider financialization of the state
Business · Economic growth · Economic rent · Economics · Financialization · Market economy · Public housing · Housing, Finance, and Neoliberalism · Finance
The limits of community housing regulation
State-led Gentrification and the Changing Geography of Market-oriented Housing Policies
Neoliberalización de la gestión urbana en Lima metropolitana, Perú
The alternative financialization of the German housing market
Urban Financialization
How real estate became ‘just another asset class’
Housing Financialization in the Global South
Why inequality does not always lead to segregation
Patient versus impatient capital
Barcelona’s housing policy under austerity urbanism
The Political Economy of Housing Financialization in Turkey
The (hidden) role of the EU in housing policy
Selling Milan in pieces
International Perspectives on Local Government and Housing
Financing urban development, three business models
The Significance of Financial Competence and Risk Tolerance in Home-Related Expenditure by Jurisdiction and Regime
The rise of polycentric regulation and its impacts on the governance of housing associations in England
Corporate landlords and disruption through consolidation in post-crash Dublin’s private rental sector
From right to good, and to asset
Housing market (in)stability and social rented housing
The Death and Life of Private Landlordism
Off the Beaten Track? Selectivity, Discretion and Path-Shaping in Swedish Public Housing
Securing Social Gains in, Against and Beyond the State
Between Self-organization and Formal Participation
Market-reach into social reproduction and transnational labour mobility in Europe
Limits to the financialisation of the state
More than a housing crisis
Institutional investment in rental housing in the city of social housing
Re-tracing the rise of institutional investor landlords in London and Milan through the lens of state de-risking
Housing stratification and the politics of tenure
With or without? For or against? Berlin’s housing policy and financial investors
Governing urban development in the Low Countries
Urban flood resilience
The financialization of Canadian multi-family rental housing
Financial geography II
Towards a Better Understanding of the Gentrification – Resistance Nexus
From Globalizing Taipei to Learning Amsterdam
Homes not shelters”
Financialization the Swedish way
When land is not enough
Beyond displacement
Vacancy at the edges of the precarious city
Housing as a site of accumulation in Amsterdam and the creation of surplus populations
The Financialization of Rental Housing 3.0
An Australian Labor Party for the future (fund)
Claiming Social Housing Futures
Coping with financialisation. Understanding socio-emotional dynamics in urban housing markets
Affordable Housing in Australia
Spores of Displacement
“They are moving more national, that is a big problem”
A multi-scalar view of urban financialization
Rental tenure and rent burden
Embedding financialization
The Everyman archetype
Social housing as infrastructure and the role of mission driven financing
Unravelling social housing exclusion. Marketization, privatization and neoliberal reforms in the Métropole européenne de Lille
Rental property investment in disadvantaged areas
The inbetweeners of the housing markets – young adults facing housing inequality in Malmö, Sweden
A homeownership paradox
Producing gentrifiable neighborhoods
Funding resilient and fragile social housing systems in Ireland and Denmark
The invisible hand of the shareholding state
Networked geographies of private landlordism
The role of institutions in social housing provision
What's wrong with investment apartments? On the construction of a ‘financialized’ rental investment product in Vienna
Financialised urban development
Financial sector actors, the state, and the rescaling of Jakarta’s extended urban region
Universities as financing vehicles of (sub)urbanisation
What does universalism mean in social housing - moral justification of social housing in Finland
The financialization of housing in Indonesia
Housing inequalities
Housing and electoral behaviour
Mobilising urban village houses into local public housing provision
Remaking urban periphery through developing long-term rental community
A turn towards post-neoliberalism? Housing policy paradigm crisis in Europe
Value and Valorisation of Space
Flowing Capital‐Disrupted Homes
Social policies, financial markets and the multi-scalar governance of affordable housing in Toronto
For whom do we densify? Explaining income variation across densification projects in the region of Utrecht, the Netherlands
Maintaining autonomy
Those who leave
Similar Origins – Divergent Paths
The state as a market maker
Too much mortgage debt? The effect of housing financialization on housing supply and residential capital formation
The Financialization of Housing Production in Brussels
The state project of crisis management
Statecraft strategies and housing financialization at the periphery
Transforming Social Housing Into an Asset Class
Bringing finance inside the state
Privatization, Financialization and State Restructuring in Eastern Germany
Economic geography and the regulatory state
Managing overaccumulation
Housing market financialization, neoliberalism and everyday retrenchment of social housing
Associative Democracy
Crucial roles of 'life's work' amidst public housing renewal in Ottawa and New York City
Extracting Value, London Style
Contradictions of Financial Capital Switching
Financialization of Housing in Brazil
Unwilling Subjects of Financialization
The Variegated Financialization of Housing
Corporate Financialization
New State Spaces
Manias, Panics and Crashes
The Financialization of Housing
The People's Home?
Financialization and the World Economy
Securitising Suburbia
Financialization and housing
How real estate became ‘just another asset class’
Global Capital, Political Institutions, and Policy Change in Developed Welfare States
Handbook of Neoliberalism
The financialisation of infrastructure
Financialisation
Financialising household water
Demise of the Dutch social housing tradition
Contesting the Financialization of Urban Space
Policy Review - Regime Shifts in Dutch Housing Policy
Policy Review The Impact of Housing Policy Changes on Housing Associations
Promoting home ownership in a social‐rented city
How Finance Penetrates its Other
Cities and the Geographies of “Actually Existing Neoliberalism”
Reconstituting the state
Wither the ‘Undivided City'? An Assessment of State‐Sponsored Gentrification in A msterdam
On zoosemiotics and bridging the value gap
Making sense of the collapse of Barings Bank
The Politics of Accommodation
Financial wizardry and the Golden City
Geographies of the financial crisis
Cognitive Closure’ in the Netherlands
The Pursuit of (Past) Happiness? Middle-class Indebtedness and American Financialisation
Welfare-State Retrenchment Revisited
Don't mind the 'funding gap
Forging Glocal Governance? Urban Infrastructures as Networked Financial Products
Privatization, Financialization and State Restructuring in Eastern Germany
Late Neoliberalism
Unwilling Subjects of Financialization
The Variegated Financialization of Housing
New Provincialisms
A Fetish and Fiction of Finance
Monetized time-space
| Unique citing works | 110 |
|---|---|
| Citations per year | 11 |
| Citation span | 2016 - 2026 (11) |
| Citation velocity | current |
| Highly cited | Yes |
| Citation types | Neutral: 106 |