WORKSHOP “The Limits to Housing Capital”

Panel Desigualdades: Desafíos desde la sociedad civil
24 octubre, 2016
Presentación libro 2016
26 octubre, 2016

Elvin Wyly (U. of British Columbia, Canadá) dictará el taller The Limits to Housing Capital, que tratará sobre cómo a casi 10 años de la crisis hipotecaria y financiera de Estados Unidos, se han intensificado las desigualdades sociales y espaciales de la urbanización, con alcances altamente globales. El workshop se realizará en inglés.



Fecha y hora: jueves 27 de octubre, de 9:30 a 12:30hrs.
Lugar: Sala P-307, edificio “Placa”, Facultad de Economía y Negocios (FEN), U. de Chile.
Moderador: Ernesto López Morales investigador COES y académico del Departamento de Urbanismo, Universidad de Chile.


Este taller se realiza en el marco de la conferencia COES LSE 2016, “Desigualdades” que tendrá lugar los días 02, 03 y 04 de noviembre en la Facultad de Economía y Negocios de la Universidad de Chile (Diagonal Paraguay 205, Santiago). La visita del profesor Elvin Wyly a Chile es posible gracias al apoyo de los Proyectos de Investigación de COES y Fondecyt Regular Nº1151287.

Abstract del workshop

In this seminar, we will discuss how the global attractiveness of urban real estate compared across different cities and alternative investment classes has become a dominant issue in the geography of public policy in the twenty-first century. The century began with an uneven yet global boom in house prices and mortgage lending, led by the push from commercial and investment banks in the United States to ‘securitize’ increasingly risky but profitable home loans into internationally-traded financial instruments —mortgage-backed securities, collateralized debt obligations, credit default swaps, and other derivatives that circulated in a vast, de-regulated trade that came to be known as the shadow banking system. This system strengthened the connections between homeowners in local neighborhoods and the risk and yield preferences of large institutional investors around the world. The system drove house prices to unprecedented levels over nearly a decade, systemically distorting the incentives for consumers as well as investors, lenders, and home builders. But prices eventually crested in an uneven plateau across the U.S. urban system, and then a decline gathered momentum that reversed the Ponzi-leveraged values of derivatives — culminating in the 2008 collapse that then-Federal Reserve Chair Ben Bernanke called “the worst financial crisis in global history, including the Great Depression.” Now, nearly a decade after deep and lasting ethnoracial inequalities in the collateral damage, and after a private banking crisis was transformed into public debt crises and painful austerity, the logics of securitization and financialization continue to suppress overall economic growth. Corporations remain reluctant to risk capital in productive business activity; instead, a rising share of capital investment is focused on the search for assets where value can be stored and capital gains can be achieved through.

Sobre Elvin Wyly

Elvin Wyly es profesor de Geografía y Presidente del Comité Coordinador de Estudios Urbanos en la Universidad de Columbia Británica, Canadá; y ex Editor General de la Revista Urban Geography. Su trabajo se enfoca en desigualdad social y espacial en ciudades de Estados Unidos y Canadá, en particular en gentrificación y cambio de barrio, desigualdades de raza y de clase en préstamos hipotecarios, y en las implicancias urbanas y sociales de las prácticas de redes sociales masivas. Ha publicado en Housing Policy Debate, Housing Studies, City & Community, International Journal of Urban and Regional Research, Journal of Ethnic and Migration Studies, Urban Affairs Review, Journal of Urban Affairs, Review of Black Political Economy, entre otras revistas. Sus publicaciones más recientes incluyen “Gentrification on the Planetary Urban Frontier: Turner’s Noösphere” (Urban Studies), “Where is an Author?” (City), and “Please Do Not Cite This Article” (Urban Geography).

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