Subprime Cities The Political Economy of Mortgage Markets [Paperback]

• Provides an even-handed and detailed analysis of mortgage markets and the recent housing crisis
• Features contributions from various social scientists with expertise in critical social theories who have assembled and analyzed detailed empirical information
• Offers a unique and powerful rebuttal to many of the misleading popular explanations of the crisis and its aftermath
• Reveals how racial minorities and the neighbourhoods inhabited by them are more likely to be targeted by subprime and predatory lenders

List of Tables viii

Notes on Contributors ix

Foreword: The Urban Roots of the Financial Crisis xiii
David Harvey

Series Editors’ Preface xx

Acknowledgments xxi

Part I Introduction 1

Subprime Cities and the Twin Crises 3
Manuel B. Aalbers

Part II The Political Economy of the Mortgage Market 23

1 Creating Liquidity Out of Spatial Fixity: The Secondary Circuit of Capital and the Restructuring of the US Housing Finance System 25
Kevin Fox Gotham

2 Finance and the State in the Housing Bubble 53
Herman Schwartz

3 Expanding the Terrain for GlolÓ_