Financialization of the housing policy: limits and perspectives / Financeirização da política habitacional: limites e perspectivas

AUTOR(ES)

Luciana de Oliveira Royer

DATA DE PUBLICAÇÃO

2009

RESUMO

The current work interprets the results of the housing credit policy in terms of housing as a universal right. The analysis is based on primary data from the Central Bank of Brazil, Caixa Economica Federal, and related literature. The analysis is based on the main sources of funding: SBPE and FGTS. Both sources operate simultaneously in the Housing Financial System (SFH) and Real State Financial System (SFI). The operation of the SFI in the framework of the public housing policy is also assessed. The current structure of the SFH acquired a new logic with the approval of the SFI in 1997. The recent advancements in the regulatory framework, with important legal modifications, have contributed to financing the SFH to achieve record numbers in recent years. However, despite all the effort to fully assemble the SFI, public and semi-public funding sources still constitute the pillars of the housing policy in effect. The recent numbers highlight the importance of the credit expansion as a mechanism to expand the access of lower income classes to the consumer market. Also noteworthy is the importance of the governments regulation in the achievement of those numbers. The financial sophistication of the SFI prompts the discussion of the neoclassical model of financial efficiency, which collides with the concept of housing as a universal right. In addition, the current consensus is that a financial model when well executed is able to promote any public policy. The current work also analyzes the lack of debate of public policies from this angle. The reduction of public policies to financial discourse results in the financialization of the housing policy, with negative impact in housing access and universalization.

ASSUNTO(S)

housing policy housing housing financial system política habitacional sistema financeiro imobiliário sistema financeiro de habitação real state financial system

Documentos Relacionados

• A COHAB-SP e uma nova política habitacional: o período 2001-2004
• Reflexões sobre a política habitacional: estado e conflitos de classes
• Demografia, planejamento territorial e a questão habitacional: prognóstico da situação habitacional do Litoral Norte Paulista
• Right to housing, public policies on housing and tackling the housing deficit: the challenges of the programme my house, mu life
• A dimensão esquecida da política habitacional: reflexões a partir do caso da Área Metropolitana de Curitiba (PR)