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The financialisation of housing and the rise of the investor-activist

Journal Article


Abstract


  • The financialisation of housing is seen to undermine tenants’ rights, affordable housing and planning controls in order to make housing and homes more amenable to profit extraction. However, the extent to which owner-occupiers themselves seek to influence urban development and planning processes to protect their housing assets has been less well-considered. Through an online survey of 1122 owner-occupiers in Australia, this article redresses this gap. By identifying the financial values participants attach to their home, and their inclinations to join resident action groups, we reveal that those with the strongest investment values are also most inclined to join resident action groups. Expanding conceptualisations of investors beyond institutional investors, the article reveals the agency of financialised owner-occupiers who, as investor-activists, seek to influence planning processes to secure the profitability of their own housing assets. The article thus reconceptualises resident action as a financial strategy to protect long- and short-term housing investments and, in doing so, charts the urban implications of financialised home ownership and investor subjectivities.

UOW Authors


Publication Date


  • 2020

Citation


  • Cook, N. & Ruming, K. (2020). The financialisation of housing and the rise of the investor-activist. Urban Studies: an international journal for research in urban studies, online first 1-17.

Scopus Eid


  • 2-s2.0-85087979224

Ro Metadata Url


  • http://ro.uow.edu.au/asshpapers/222

Has Global Citation Frequency


Number Of Pages


  • 16

Start Page


  • 1

End Page


  • 17

Volume


  • online first

Place Of Publication


  • United Kingdom

Abstract


  • The financialisation of housing is seen to undermine tenants’ rights, affordable housing and planning controls in order to make housing and homes more amenable to profit extraction. However, the extent to which owner-occupiers themselves seek to influence urban development and planning processes to protect their housing assets has been less well-considered. Through an online survey of 1122 owner-occupiers in Australia, this article redresses this gap. By identifying the financial values participants attach to their home, and their inclinations to join resident action groups, we reveal that those with the strongest investment values are also most inclined to join resident action groups. Expanding conceptualisations of investors beyond institutional investors, the article reveals the agency of financialised owner-occupiers who, as investor-activists, seek to influence planning processes to secure the profitability of their own housing assets. The article thus reconceptualises resident action as a financial strategy to protect long- and short-term housing investments and, in doing so, charts the urban implications of financialised home ownership and investor subjectivities.

UOW Authors


Publication Date


  • 2020

Citation


  • Cook, N. & Ruming, K. (2020). The financialisation of housing and the rise of the investor-activist. Urban Studies: an international journal for research in urban studies, online first 1-17.

Scopus Eid


  • 2-s2.0-85087979224

Ro Metadata Url


  • http://ro.uow.edu.au/asshpapers/222

Has Global Citation Frequency


Number Of Pages


  • 16

Start Page


  • 1

End Page


  • 17

Volume


  • online first

Place Of Publication


  • United Kingdom