Subprime Cities: The Political Economy of Mortgage Markets presents a collection of works from social scientists that offer insights into mortgage markets and the causes, effects, and aftermath of the recent 'subprime' mortgage crisis. Provides an even-handed and detailed analysis of mortgage markets and the recent housing crisisFeatures contributions from various social scientists withexpertise in critical social theories who have assembled and analyzed detailed empirical informationOffers a unique and powerful rebuttal to many of the misleading popular explanations of the crisis and its aftermathReveals how racial minorities and the neighbourhoods inhabited by them are more likely to be targeted by subprime and predatory lenders INDICE: List of Figures viiList of Tables viiiNotes on Contributors ixForeword: The Urban Roots of the Financial Crisis xiiiDavid HarveySeries Editors’ Preface xxAcknowledgments xxiPart I Introduction 1Subprime Cities and the TwinCrises 3Manuel B. AalbersPart II The Political Economy of the Mortgage Market231 Creating Liquidity Out of Spatial Fixity: The Secondary Circuit of Capital and the Restructuring of the US Housing Finance System 25Kevin Fox Gotham2 Finance and the State in the Housing Bubble 53Herman Schwartz3 Expanding the Terrain for Global Capital: When Local Housing Becomes an Electronic Instrument 74Saskia Sassen4 Building New Markets: Transferring Securitization, Bond-Rating, and a Crisis from the US to the UK 97Thomas Wainwright5 European Mortgage Markets Before and After the Financial Crisis 120Manuel B. Aalbers6 The Reinvention of Banking and the Subprime Crisis: On the Origins of Subprime Loans, andHow Economists Missed the Crisis 151Gary A. DymskiPart III Cities, Race, and the Subprime Crisis 1857 Redlining Revisited: Mortgage Lending Patterns in Sacramento 1930-2004 187Jesus Hernandez8 The New Economy and the City: Foreclosures in Essex County New Jersey 219Kathe Newman9 Race, Class, and Rent in America’s Subprime Cities 242Elvin Wyly, Markus Moos, and Daniel J. HammelPart IV Conclusion 29110 Subprime Crisis and Urban Problematic 293Gary A. DymskiGlossary315Index 324
- ISBN: 978-1-4443-4745-6
- Editorial: Wiley-Blackwell
- Encuadernacion: Rústica
- Páginas: 280
- Fecha Publicación: 17/02/2012
- Nº Volúmenes: 1
- Idioma: Inglés