Form Follows Function: On the Interaction between Real Estate Finance and Urban Spatial Structure

David Bieri

MPRA Paper from University Library of Munich, Germany

Abstract: The fundamental connection between the spatial development of cities and financial markets is a topic that has received little attention from either urbanists or economists. In this short piece, I argue that part of the post-crisis recovery is predicated on a multi-faceted understanding of the subtle causal linkages between financial flows and urban morphologies. Following a historical contextualization of my main argument, I speculate about the key channels through which the dialectical relationship between capital, its regimes of accumulation and its unequal spatial distribution affect the urban fabric. I identify two separate economic processes and historical developments that have co-defined the nexus of real estate finance and urban systems. First, the process of financial globalization and deregulation has been instrumental to the financialization of real estate, and, second, post-Fordist forces of organizational fragmentation have altered the formational principles of core aspects of real estate development processes, including the role of architecture.

Keywords: Real estate finance; financial markets; urban morphologies; financialization (search for similar items in EconPapers)
JEL-codes: B0 G1 G2 R3 (search for similar items in EconPapers)
Date: 2012-12, Revised 2013-02
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Published in CriticalProductive 1.2(2013): pp. 7-16

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