Finance, Home Building, and Urban Residential Structuring
Abstract: The aim of this article is to improve our understanding of finance in home building by introducing an actor perspective in structure‐oriented theories of capital circulation. David Harvey's three‐circuit theory, with fixity‐motion processes and (de‐/re)‐territorialisation, is taken as the starting point. The analysis is based on a case study of Norwegian home‐building finance, outlining the emerging structure of housing and finance under the Norwegian version of neoliberalism; comprising deregulation and re‐regulation phases. The article delineates today's home‐building finance, and identifies large banks, small banks, large investment funds and small investment funds as structural actors operating within actual fixity and motion processes, causing a distinct territorialisation of urban landscapes, as exemplified by gentrification.
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Document Type: Research Article
Affiliations: Norwegian Institute for Urban and Regional Research, Oslo, Norway;
Publication date: 2011-09-01