By Manuel B. Aalbers
Subprime towns: The Political financial system of loan Markets offers a suite of works from social scientists that provide insights into loan markets and the motives, results, and aftermath of the new 'subprime' loan predicament.
Provides an even-handed and specified research of personal loan markets and the new housing crisis
Features contributions from numerous social scientists with services in severe social theories who've assembled and analyzed distinctive empirical information
Offers a distinct and strong rebuttal to a few of the deceptive renowned factors of the challenge and its aftermath
Reveals how racial minorities and the neighbourhoods inhabited by way of them usually tend to be distinct through subprime and predatory lenders
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Additional info for Subprime Cities: The Political Economy of Mortgage Markets
Veblen, T. (1934) Essays in our changing order. M. Kelley, New York. K. R. Holloway (1999) “The color of money” revisited. Racial lending patterns in Atlanta’s neighborhoods. Housing Policy Debate 10: 555–600. , M. Atia, H. Foxcroft, D. Hammel, and K. Philips-Watts (2006) American home: predatory mortgage capital and neighbourhood spaces of race and class exploitation in the United States. Geografiska Annaler B 88: 105–32. , M. Moos, H. Foxcroft, and E. Kabahizi (2008) Subprime mortgage segmentation in the American urban system.
Lee (1995) Place your bets: towards an understanding of globalisation, socio-financial engineering and competition within a financial centre. Urban Studies 32(2): 329–44. L. and J. Yinger (2002) The Color of Credit: Mortgage Discrimination, Research Methodology, and Fair-Lending Enforcement. Cambridge, MA: MIT Press. Sassen, S. (2001) The Global City: New York, London, Tokyo. Second edition. Princeton: Princeton University Press. M. (2009) Subprime nation: American power, global finance and the housing bubble.
In a finance-led regime of accumulation (Boyer 2000) risks that were once limited to a specific actor in the production–consumption chain become risks for all of the actors involved in that industry. In such a regime, the rules and logics of Wall Street are increasingly becoming the rules and logics outside Wall Street: on Main Street and anywhere else. It also involves the increasing integration and simultaneous expansion of different financial sub-markets; for example, the mortgage market and the securitization market.