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The financing and financiarization of real estate: an analysis of the production of space and of the socio-spatial segregation in the city of São Paulo by the study of the housing market case

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Author(s):
Adriano Botelho
Total Authors: 1
Document type: Doctoral Thesis
Press: São Paulo.
Institution: Universidade de São Paulo (USP). Faculdade de Filosofia, Letras e Ciências Humanas (FFLCH/SBD)
Defense date:
Examining board members:
Margarida Maria de Andrade; Nabil Georges Bonduki; Reinaldo Paul Pérez Machado; Sérgio Manuel Merêncio Martins; Odette Carvalho de Lima Seabra
Advisor: Margarida Maria de Andrade
Abstract

The theme of this work is the study of the spatial production and consumption that takes place in the contemporary capitalism, focusing on the union between the real estate business with the financial capital and its relationships with the urbanization process. The aim of the research was to analyze how the increasing integration between the financial capital and the real estate has by consequence a greater spatial fragmentation and a deepening of the social and spatial segregation in the city of São Paulo. The hypothesis raised was that the development of this integration would increase the monopolist capital power over the best sites of the city, intensifying the urban space fragmentation, consolidating its spatial hierarchy and the city spatial and social segregation. To make this research viable, the study of housing production in São Paulo in its articulations with real estate was privileged, in a context of changes in the national dwelling financing that have started in the early 1990s. Thus, three cases of real estate enterprises in the city of São Paulo were analyzed: Real Estate Investment Shares and Mortgage Securitization, with the analysis of the Panamby Real State Investment Found; housing cooperatives (self-financing), by the study of Paulicoop Planning and Assistance; and the public assistance of dwelling by the Housing Companies, analyzing the condominium City Jaraguá, which construction was self-run under Cohab-SP responsibility. The study of each case, focusing on its urban location and its market characteristics, revealed important elements of the hierachization, fragmentation and segregation process in the São Paulo metropolis. (AU)