Suburban residential real estate in a financialized production regime in the Los Angeles region

L'immobilier résidentiel suburbain en régime financiarisé de production dans la région de Los Angeles

Renaud Le Goix ()
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Renaud Le Goix: GC (UMR_8504) - Géographie-cités - UP1 - Université Paris 1 Panthéon-Sorbonne - UPD7 - Université Paris Diderot - Paris 7 - CNRS - Centre National de la Recherche Scientifique, UPD7 - Université Paris Diderot - Paris 7

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Abstract: This research elaborates on a case study of how planned developments are massively produced in the Los Angeles metropolitan region and its margins. It aims at analyzing how Le Goix Renaud, « L'immobilier résidentiel suburbain en régime financiarisé de production dans la région de Los Angeles », Revue d'Économie Régionale & Urbaine 1/2016 (Février), p. 101-130 2 actors interact and frame the suburban production contexts. Data used derive from a database of 2518 planned communities built after 1970 (proprietary data collected during field research), interviews conducted with local governments' planners, Census data, and governmental agencies data. The production of planned developments is framed by a series of financial interaction and contracts and debts, yielding a high dependency between developers, local governments, special districts, property owners associations and, lastly, homeowners. Such a financialized system has been revealed by the foreclosure crisis, as it depends upon a shared belief in a constant growth of property values. Data show that this constant growth, in studied areas, is a rather uncertain outcome.

Keywords: Financialization; suburbs; developers; public policies; property prices; Financiarisation; Promoteurs immobiliers; politiques publiques; prix immobiliers (search for similar items in EconPapers)
Date: 2016-02
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-01350882v1
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Published in Revue d'économie régionale et urbaine, 2016, Métropolisation, cohésion et performances : quels futurs pour nos territoires ?, 2016/1, pp.101-130

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