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Thursday, April 5 • 1:30pm - 2:55pm
TH1.30.01 Finance-Led Capitalism, Housing and Urban Inequalities II: Understanding Speculation, Value and Risk

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Cities across the globe have been undergoing a massive transformation in the aftermath of the 2008 global financial crisis. While some cities have witnessed deepening poverty, foreclosures, and homelessness, others have experienced bubbling property markets, rampant gentrification, and rental housing crises. Some cities have witnessed both processes simultaneously, with effects on social, income, and wealth inequalities that vary along axes of difference such as race, gender, class, age, and citizenship. Undergirding such changes has been a reorganization of the global financial system, with new kinds of lenders and insidious innovations in new credit products. Simultaneously many countries have implemented national consumer protection strategies, financial literacy initiatives, and financially inclusive policy, which potentially serve their stated purposes of strengthening the financial resilience of individuals and households, but can also be conceptualized as deepening processes of state-led neoliberalism and “financialization”. Comparison between cities, countries and their associated policy initiatives will promote dialogue on the scalar components and effects of contemporary finance-led capitalism.

This second panel in the series examines how speculation and risk, and in turn the concept of “financialization” itself, might be theorized and measured with respect to the city, urban residents, and housing. It begins with a conceptual discussion of how the term “financialization” might be defined and measured. It then examines the concepts of financial literacy and financial inclusion, and interrogates how they might relate to financial value production. The last two papers in the session empirically examine how speculation and risk were and are embedded in the geography cities, via housing markets, mobilities, and infrastructure, among other things.

Moderator: Dylan Simone, University of Toronto

Financial Literacy, Risk, and Value Theory 
Dylan Simone, University of Toronto

A Geography of Speculative Finance: How the Production of Liquidity Reshapes Urbanization 
Kathe Newman, Rutgers University; Katie Nelson, Rutgers University; Elora Raymond, Clemson University

Real Estate Valuation and Influence on Spaces – Germany, Spain and Mexico in a Debate on Accounting Techniques 
Eugenia Winter, Goethe-Universität Frankfurt, Germany

Risky Neighbourhoods: The Multi-Scalar Geography of Vulnerability and Risk in the Canadian Urban Debtscape 
Alan Walks, University of Toronto

Real Estate Financialization and Changes in Space Production: The Relation Between Developers and State in the São Paulo Metropolis 
Beatriz Rufino, Universidade de Sao Paulo


Thursday April 5, 2018 1:30pm - 2:55pm
Kent (2nd Floor)