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Who Loses and Who Wins in a Housing Crisis? Lessons From Spain and Greece for a Nuanced Understanding of Dispossession

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  • Georgia Alexandri
  • Michael Janoschka

Abstract

The emerging postcrisis geographies in Southern Europe are intrinsically related to debt and dispossession. In Spain, mortgage homeownership and indebtedness led to housing dispossessions, while in Greece, skyrocketing private indebtedness is eventually arranged through housing foreclosures. Building upon the notion of accumulation by dispossession, i.e., on the way capital accumulates wealth in the era of neoliberal globalization, this article elaborates two novel concepts to understand the housing crises in both countries. The perception of dispossession by odious taxation describes the process of wealth extraction facilitated by financial mechanisms in Greece, and dispossession by political fraud is conceived as a characterization of fraudulent political arrangements and financial tools used for orchestrating housing stealth in Spain. This nurtures the perception that a comparative insight on the processes of dispossession in the Spanish and Greek housing markets may facilitate a nuanced understanding over the interrelated processes of contemporary housing restructuring.

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  • Georgia Alexandri & Michael Janoschka, 2018. "Who Loses and Who Wins in a Housing Crisis? Lessons From Spain and Greece for a Nuanced Understanding of Dispossession," Housing Policy Debate, Taylor & Francis Journals, vol. 28(1), pages 117-134, January.
    • Handle: RePEc:taf:houspd:v:28:y:2018:i:1:p:117-134
    DOI: 10.1080/10511482.2017.1324891
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    References listed on IDEAS

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    1. Christian Marazzi, 2011. "The Violence of Financial Capitalism," MIT Press Books, The MIT Press, edition 2, volume 1, number 1584351020, April.
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    1. Jordi G. Guzmán, 2023. "THE HOUSING/FINANCIAL COMPLEX IN SPAIN: After the 2008 Global Financial Crisis," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 47(6), pages 900-916, November.
    2. Aveline-Dubach, Natacha, 2022. "The financialization of rental housing in Tokyo," Land Use Policy, Elsevier, vol. 112(C).
    3. Salvati, Luca, 2020. "Residential mobility and the local context: Comparing long-term and short-term spatial trends of population movements in Greece," Socio-Economic Planning Sciences, Elsevier, vol. 72(C).
    4. Nick Revington & Martine August, 2020. "Making a market for itself: The emergent financialization of student housing in Canada," Environment and Planning A, , vol. 52(5), pages 856-877, August.
    5. Vinci, Sabato & Bartolacci, Francesca & Salvia, Rosanna & Salvati, Luca, 2022. "Housing markets, the great crisis, and metropolitan gradients: Insights from Greece, 2000–2014," Socio-Economic Planning Sciences, Elsevier, vol. 80(C).
    6. Ken Chilton & Robert Mark Silverman & Rabia Chaudhry & Chihaungji Wang, 2018. "The Impact of Single-Family Rental REITs on Regional Housing Markets: A Case Study of Nashville, TN," Societies, MDPI, vol. 8(4), pages 1-11, September.
    7. María Barrero-Rescalvo & Ibán Díaz-Parra, 2024. "Short-term rentals’ supply-side structure and the struggle for rent appropriation: Insights from Andalusia, Spain," Environment and Planning A, , vol. 56(2), pages 508-524, March.
    8. Katsinas, Philipp, 2021. "Professionalisation of short-term rentals and emergent tourism gentrification in post-crisis Thessaloniki," LSE Research Online Documents on Economics 108590, London School of Economics and Political Science, LSE Library.
    9. Georgia Alexandri & Michael Janoschka, 2020. "‘Post-pandemic’ transnational gentrifications: A critical outlook," Urban Studies, Urban Studies Journal Limited, vol. 57(15), pages 3202-3214, November.
    10. Natacha Aveline-Dubach, 2020. "The Financialization of Rental Housing in Tokyo [La financiarisation des logements locatif à Tokyo]," Post-Print halshs-02440007, HAL.
    11. Richard Waldron, 2019. "Financialization, Urban Governance and the Planning System: Utilizing ‘Development Viability’ as a Policy Narrative for the Liberalization of Ireland's Post‐Crash Planning System," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 43(4), pages 685-704, July.
    12. Michael Janoschka & Fabiola Mota, 2021. "New municipalism in action or urban neoliberalisation reloaded? An analysis of governance change, stability and path dependence in Madrid (2015–2019)," Urban Studies, Urban Studies Journal Limited, vol. 58(13), pages 2814-2830, October.
    13. Philipp Katsinas, 2021. "Professionalisation of short-term rentals and emergent tourism gentrification in post-crisis Thessaloniki," Environment and Planning A, , vol. 53(7), pages 1652-1670, October.
    14. Konstantinos Gourzis & Stelios Gialis, 2019. "Dismantled Spatial Fixes in the Aftermath of Recession: Capital Switching and Labour Underutilization in the Greek Capital Metropolitan Region," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 43(4), pages 741-759, July.

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