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(Reference retrieved automatically from SciELO through information on FAPESP grant and its corresponding number as mentioned in the publication by the authors.)

The capture of space and territory by finance through housing securitization in Brazil

Full text
Author(s):
Bruno L. S. Barcella [1]
Total Authors: 1
Affiliation:
[1] Universidade Federal do ABC - Brasil
Total Affiliations: 1
Document type: Journal article
Source: urbe, Rev. Bras. Gest. Urbana; v. 16, 2024-11-22.
Abstract

Abstract This article aims to contribute to the debate on the financialization process of the Brazilian real estate market. To this end, it proposes an analysis of the process of capturing Brazilian space and territory through housing securitization. It is based on the argument that space needs to be central in analyses of the relationship between the financialization of the economy and the production of urban space. Therefore, the article proposes a geographical analysis of the process. For this purpose, data on Real Estate Receivables Certificates (Certificados de Recebíveis Imobiliários - CRI), a financial instrument that implements the securitization of real estate debts in Brazil through the Sistema Financeiro Imobiliário (SFI) Law (Real Estate Financial System) in 1997, are analyzed. It is demonstrated that it is from the largest public banking institution, Caixa Econômica Federal (CEF), as a central agent in the CRI market, that it is possible to observe, for the first time in the country, a real capture of territory by finance, capturing housing to serve as financial backing in different regions, states, and cities, albeit in a selective and unequal manner. Therefore, we propose an analysis that places spatial dimension at the center of the analysis, on different scales, from the national to the city level. (AU)

FAPESP's process: 23/12730-5 - State, finance, and property: the reconfiguration of archaic rent-seeking with modern facades in Brazil
Grantee:Bruno Leonardo Barcella Silva
Support Opportunities: Scholarships in Brazil - Post-Doctoral
FAPESP's process: 18/03674-6 - Overlapping between real estate and financial in middle cities: connections, synergies and contradictions towards the specificities of local real estate dynamics
Grantee:Bruno Leonardo Barcella Silva
Support Opportunities: Scholarships in Brazil - Doctorate