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Financialization, real estate capital appreciation and commodification of urban metamorphosis

Abstract

Throughout the late decades of the last century, because of the imposition of a new capitalist structure based on the predominance of financial markets over the productive ones, there was a rupture in the dominant economic dynamics, which has radically changed the framework within which the social processes developed. The financialization of the economy has triggered a metamorphosis, during which process, associated with an explosive increase in connectivity and mobility, there was a change in the relations between the major urban areas of the world, which became components of a Global Urban Network. At the same time, insofar as each of these areas has articulated to such Network, substantive mutations have occurred that affected the organization, functioning, morphology and landscape of these areas. Due to these mutations, the entity that had once been designated as "city" tended to have its boundaries blurred across unlimited urban spaces, whose presence can be seen in different parts of the world.

Keywords:
Financialization; Commodification; Urban metamorphosis; Global urban network.

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