Full Citation

Title: Financiarisation, crise et prix immobiliers : le lotissement des promesses

Citation Type: Miscellaneous

Publication Year: 2014

ISBN:

ISSN:

DOI:

NSFID:

PMCID:

PMID:

Abstract: Based on a case study of metropolitan areas in Southern California, the paper aims at analyzing house prices in the light of practices and policies that yield a financialization of the suburban production. Property price is indeed central in a system based on secondary capital flow, suburban investment and land rent ultimately being captured by financial organizations. The subprime crisis acted as a momentum of financialization. A bet, or systemic anticipation on property price growth has been structuring local governance, and series of contractual agreements between developers, jurisdictions, districts and homeowners. The equilibrium of this system derives from a shared belief about housing price continuous growth. The analysis of local trajectories of price (1980‑2010) yields unexpected results: negative trends and relative devalorization of housing is a major issue in suburban subdivisions, a systemic failure of the financialized suburban production system.

Url: https://journals.openedition.org/bagf/1860

User Submitted?: No

Authors: Le Goix, Renaud

Publisher: Université Panthéon-Sorbonne

Data Collections: IPUMS NHGIS

Topics: Land Use/Urban Organization

Countries: United States