A new brochure has recently been published by the European Action Coalition for the Right to Housing and to the City on the financialisation of housing. Living in Europe is becoming more and more expensive. The brochure explains in clear language why this is, whose interests are served and what we can do together to combat financialisation..
Download a free PDF version of the report here (in English): Download PDF version
(By European Action Coalition for the Right to Housing and to the City, source website Rosa Luxemburg Foundation)
“Every day, members of the European Action Coalition for the Right to Housing and the City (a coalition of 30 groups that BPW is part of) witness the manifestations of the housing crisis and feel the need to address its systemic causes. We know that we must recognize that finance capital has gained tremendous advantage as homes have been commodified (freely marketed) and increasingly turned into objects for financial speculation.
This process is part of the financialization of housing, alongside the increasing dominance of financial actors in housing production and exchange and related changes in the market, and in the state and households. But we can also recognize that the transformation of housing into a financial product does not mean that capital accumulation through exploitation does not continue to function in housing production.
While we observe how capital is accumulated through housing and how financialization affects homeownership, private rental housing and even social housing, we must not forget to ask how this process relates to other forms of capital accumulation in contemporary capitalism.”