Details
| Titel in Übersetzung | Financialization and transnational gentrification: roots of an urban transformation process in Cuenca, Ecuador |
|---|---|
| Originalsprache | Spanisch |
| Seiten (von - bis) | 139-161 |
| Seitenumfang | 23 |
| Fachzeitschrift | SCRIPTA NOVA |
| Jahrgang | 27 |
| Ausgabenummer | 2 |
| Frühes Online-Datum | 30 Juni 2023 |
| Publikationsstatus | Veröffentlicht - 15 Juli 2023 |
Abstract
The financialization of housing is central to understanding urban development and the processes of transnational gentrification occurring in the Global South. The city of Cuenca offers an emble-matic case, in which transnational investment has induced new processes of urbanization, much of it intended to attract higher-income consumers from the Global North. The transformation of its real estate market from a local one into a transnational one is led partly by Ecuadorian migration to the Global North, but it is also accompanied by North-South lifestyle migration. Both groups have helped to propel real estate construction, especially of new, dense, high-rise condos. The article argues that Ecuador’s attempt to boost its construction sector and expand mortgage credit through securitization of debts has helped to attract transnational pools of migrant wor-kers’ savings to the built environment of its cities—notably Cuenca. Yet the benefits of urban housing investment are not shared by lower-income workers there, who continue to lack access to affordable housing.
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in: SCRIPTA NOVA, Jahrgang 27, Nr. 2, 15.07.2023, S. 139-161.
Publikation: Beitrag in Fachzeitschrift › Artikel › Forschung › Peer-Review
}
TY - JOUR
T1 - Financiarización y gentrificación transnacional
T2 - Raíces de un proceso de transformación urbana en Cuenca, Ecuador
AU - Hayes, Matthew
AU - Celleri, Daniela
PY - 2023/7/15
Y1 - 2023/7/15
N2 - The financialization of housing is central to understanding urban development and the processes of transnational gentrification occurring in the Global South. The city of Cuenca offers an emble-matic case, in which transnational investment has induced new processes of urbanization, much of it intended to attract higher-income consumers from the Global North. The transformation of its real estate market from a local one into a transnational one is led partly by Ecuadorian migration to the Global North, but it is also accompanied by North-South lifestyle migration. Both groups have helped to propel real estate construction, especially of new, dense, high-rise condos. The article argues that Ecuador’s attempt to boost its construction sector and expand mortgage credit through securitization of debts has helped to attract transnational pools of migrant wor-kers’ savings to the built environment of its cities—notably Cuenca. Yet the benefits of urban housing investment are not shared by lower-income workers there, who continue to lack access to affordable housing.
AB - The financialization of housing is central to understanding urban development and the processes of transnational gentrification occurring in the Global South. The city of Cuenca offers an emble-matic case, in which transnational investment has induced new processes of urbanization, much of it intended to attract higher-income consumers from the Global North. The transformation of its real estate market from a local one into a transnational one is led partly by Ecuadorian migration to the Global North, but it is also accompanied by North-South lifestyle migration. Both groups have helped to propel real estate construction, especially of new, dense, high-rise condos. The article argues that Ecuador’s attempt to boost its construction sector and expand mortgage credit through securitization of debts has helped to attract transnational pools of migrant wor-kers’ savings to the built environment of its cities—notably Cuenca. Yet the benefits of urban housing investment are not shared by lower-income workers there, who continue to lack access to affordable housing.
KW - Ecuador
KW - Heritage urbanization
KW - housing policy
KW - migration
KW - transnational mobility
UR - http://www.scopus.com/inward/record.url?scp=85168138053&partnerID=8YFLogxK
U2 - 10.1344/sn2023.27.40341
DO - 10.1344/sn2023.27.40341
M3 - Article
AN - SCOPUS:85168138053
VL - 27
SP - 139
EP - 161
JO - SCRIPTA NOVA
JF - SCRIPTA NOVA
SN - 1138-9788
IS - 2
ER -