Campania #HandsOffOurHomes

What is the financialisation of housing?

The financialisation of housing is the result of the expansion of neo-liberal capitalism and its propensity for the commodification of all spheres of life. Neo-liberal deregulation favors the private sector by appropriating housing and transforming it into a commodity.

The complete transformation of housing into goods, not only a commodity in the real estate markets, but also in the financial markets. This transformation allows speculation as well as the reduction of the social function of housing, both as an essential social need and a fundamental human right.

In addition, a mixture of new laws and deregulation facilitates the possibility for the private sector to financialize and allow speculation.

Against the power of finance in housing and in cities. We decided to have a broad-based campaign that talks about the many forms of financialisation, and gave a lot of scope for member groups to push on their own issues. Though this there was general agreement to have an awareness-raising campaign that included local struggles.

Banks, elites, investors and real estate developers have become even richer, while inequalities grow. Foreclosures, forced evictions and homelessness increase through Europe as housing supply decreases and is privatized by investment funds. On the other hand, luxury apartments and office spaces are built, and stay empty. Housing has turned into a commodity.

The underlying causes of these processes are being uncovered and denounced; capital accumulation in our cities leading to commodification and the financialization of housing, to the benefit of the private sector and to the detriment of cities´ inhabitants. Cities are used to create profit. Human rights to housing and to the city are violated.

We call all European housing movements, also wider society, to raise their voices against the financialization of our cities and homes. We demand decent and affordable housing for all.

https://housingnotprofit.org/en/campaigns/view/handsoffourhomes

#HandsOffOurHommes

#HandsOffOurHomes What is the financialisation of housing? The financialisation of housing is the result of the expansion of neo-liberal capitalism and its propensity for the commodification of all spheres of life. Neo-liberal deregulation favors the private sector by appropriating housing and transforming it into a commodity.The complete transformation of housing into goods, not only a commodity in the real estate markets, but also in the financial markets. This transformation allows speculation as well as the reduction of the social function of housing, both as an essential social need and a fundamental human right.In addition, a mixture of new laws and deregulation facilitates the possibility for the private sector to financialize and allow speculation.Against the power of finance in housing and in cities. We decided to have a broad-based campaign that talks about the many forms of financialisation, and gave a lot of scope for member groups to push on their own issues. Though this there was general agreement to have an awareness-raising campaign that included local struggles. Banks, elites, investors and real estate developers have become even richer, while inequalities grow. Foreclosures, forced evictions and homelessness increase through Europe as housing supply decreases and is privatized by investment funds. On the other hand, luxury apartments and office spaces are built, and stay empty. Housing has turned into a commodity.The underlying causes of these processes are being uncovered and denounced; capital accumulation in our cities leading to commodification and the financialization of housing, to the benefit of the private sector and to the detriment of cities´ inhabitants. Cities are used to create profit. Human rights to housing and to the city are violated. We call all European housing movements, also wider society, to raise their voices against the financialization of our cities and homes. We demand decent and affordable housing for all.https://housingnotprofit.org/en/campaigns/view/handsoffourhomes

Posted by European Action Coalition for the Right to Housing and to the City on Tuesday, November 14, 2017