Geographies of mortgage markets

homeowners depend on them, because they fuel the economy both directly and indirectly and because they serve an ideological purpose in the neoliberal age. The ‘regulated deregulation’ of mortgage markets is not just a goal in itself, but also a means to further the neoliberal agenda of private property, firms and growing profits. This chapter discusses the geographies of mortgage markets. The patterns and structures of mortgage lending reflect uneven socio-economic geographies but also contribute to re/producing uneven development and this takes place at different scales. This chapter focuses specifically on two scales: the urban geographies ofmortgage lending and the international geography of mortgage funding. Once we start looking at the interaction of these geographies, we can begin to understand the crucial role of the mortgage market in the origins and spread of the global financial crisis. These geographies and the ensuingcrisis will be discussed in terms of the financialization of home, which was enabled though regulated deregulation, securitization and credit scoring.

ISBN:9781784718992

Jaar van publicatie:2017