Demolishing the Present to Sell off the Future? The Emergence of ‘Financialized Municipal Entrepreneurialism’ in London

This article introduces a new mode of urban entrepreneurialism in London through a study of the state‐executed, speculative development and financialization of public land. In response to an intensifying housing crisis and austerity‐imposed fiscal constraints, municipalities in London are devising entrepreneurial solutions to deliver more housing. Among these ‘solutions’ can be found the early signs of the state‐executed financialization of public housing in the UK with the use of speculative council‐owned special purpose vehicles (SPVs) that replace existing public housing stock with mixed‐tenure developments, creating ambiguous public/private tenancies that function as homes and the basis for liquid financial assets. Drawing together parallel literatures on the financialization of urban governance and housing, and combining these with original empirical research, we situate these developments in contrast to earlier modes of governance, identifying a distinct mode of entrepreneurial governance in London: financialized municipal entrepreneurialism. The local state is no longer merely the enabler—limited to providing strategic oversight of the private sector—but financializes its practice in a reimagined commercialized interventionism, as property speculator. This article concludes that while the architects of this new mode of entrepreneurialism extol the increased capacity and control it provides, any such gains must be set against longer‐term financial, democratic and political risks.     

荷兰租赁住房的发展历程

大力发展租赁住房是荷兰成功解决居民住房问题的基本经验。首先对荷兰租赁住房市场发展历程进行了概括介绍,其后对荷兰租赁住房体系,包括其租赁住房类型、特点、供给主体、融资来源、租赁对象等进行了归纳性研究,重点对政府在发展租赁住房体系中的作用及其政策实施效果进行了评价,从中揭示了荷兰发展租赁住房体系的经验与教训。     

Old Wine in Private Equity Bottles? The Resurgence of Contract‐for‐Deed Home Sales in US Urban Neighborhoods

This article describes the reemergence, in the wake of the mortgage crisis, of a predatory financial practice in predominantly black neighborhoods in the US: the contract for deed (CFD). The CFD has a notorious urban history; it was a focus of social justice organizing in 1960s Chicago, which helped lay the groundwork for advocacy that culminated in two important laws in the US: the Home Mortgage Disclosure Act of 1975 and the Community Reinvestment Act of 1977. This article places the reemergence of the CFD in the post‐crisis cycle of housing investment and disinvestment, estimates the minimum scale of CFD ownership, and examines the geography of a well‐known CFD seller in the Atlanta area. As policymakers in the US took efforts to restrict predatory lending fueled by private‐label securitization following the subprime crisis, capital markets shifted toward private equity financiers who provided a new supply of lightly regulated capital for urban housing markets. Predominantly black neighborhoods became prey for high‐return schemes meant to extract as much cash flow out of vulnerable residents as possible, offering them the illusion of homeownership. The findings show that the CFD seller focused on black neighborhoods and suggests that its profits from this activity have been quite lucrative.     

日本公营住宅的运作体系

在日本国民的实际生活中,公营住宅为解决低收入家庭的居住问题起了不容低估的作用。在政府的主导下,日本形成了以公营住宅、公团住宅、公库住宅为三大支柱的公共住宅供应体系。政府在财政、金融和税收制度上,对公营住宅采取了相应的措施,对解决日本住宅短缺问题起到了举足轻重的作用。     

战后美国城市改造对社会公正的侵蚀

战后美国的城市改造,主要在住房建设和城市更新两个方面展开,目标是兼顾城市的经济发展和社会公正.然而,在实施过程中,由于联邦住房政策二元结构的形成,首先是联邦政府的住房政策偏离了建设公共住房的初衷,基本上没有达到政策的目标;其后是城市更新运动在强势利益集团的主导下,漠视了低收入家庭的住房需求,侵蚀和损害了社会公正.     

投资性住房需求对商品房空置率的影响分析

文章通过对比商品房空置率分别在投资性住房需求比例不变、上升与下降时的大小,分析了投资性住房需求对商品房空置率的影响。