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Extracting rents through foreclosures: The rescue of Catalunya Banc as a new urban strategy following the burst of the Spanish bubble

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Listed:
  • Vives-Miró Sònia

    (Department of Geography, University of Santiago de Compostela, Santiago de Compostela, Spain)

  • Gutiérrez Aaron

    (Department of Geography, Rovira i Virgili University, Rovira, Spain)

Abstract

Using the paradigmatic example of Catalunya Banc, this paper analyses the Spanish varieties of the new financial engineering used to appropriate urban rent by home dispossession. It aims to contribute to the study of the new forms of financialization that have appeared since 2008. Particular attention is given to the role of the state, the emergence of private equity funds as global real estate owners and how this has translated into a wave of evictions due to mortgage foreclosures. In short, this article highlights the implications of the uneven development resulting from the exhaustion of the so-called Spanish model of accumulation during the real estate boom years.

Suggested Citation

  • Vives-Miró Sònia & Gutiérrez Aaron, 2017. "Extracting rents through foreclosures: The rescue of Catalunya Banc as a new urban strategy following the burst of the Spanish bubble," Miscellanea Geographica. Regional Studies on Development, Sciendo, vol. 21(4), pages 151-159, December.
    • Handle: RePEc:vrs:mgrsod:v:21:y:2017:i:4:p:151-159:n:5
    DOI: 10.1515/mgrsd-2017-0030
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    References listed on IDEAS

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    1. Kevin Fox Gotham, 2009. "Creating Liquidity out of Spatial Fixity: The Secondary Circuit of Capital and the Subprime Mortgage Crisis," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 33(2), pages 355-371, June.
    2. Harvey, David, 2005. "The New Imperialism," OUP Catalogue, Oxford University Press, number 9780199278084.
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