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Afterword: Mortgage Markets and the Urban Problematic in the Global Transition

Author

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  • GARY A. DYMSKI
Abstract
This afterword develops one argument about, and then engages in two dialogues with, this symposium on the subprime crisis and the mortgage market. First, it argues that these articles have a unifying theme: they all insist that any understanding of the evolution of the subprime crisis must take into account the role of the complex, racialized dynamics of social inequality in urban space. This perspective, which we term the ‘urban problematic’, is shared by the authors gathered here; however, it is notably absent from many other accounts of the origins of the subprime crisis. This leads to two dialogues with these articles. The first explores this question: if this problematic is so powerful, then why isn't it pervasive in all social‐scientific and economic discussions of the subprime crisis? The second dialogue then asks why there aren't richer ongoing exchanges between social scientists engaged in the urban problematic, on one side, and heterodox economists, on the other side? We suggest that it will be beneficial to deepen these interdisciplinary exchanges; and doing so will require making visible — and then overcoming — some hidden disjunctures in the ways that those working on these problems from different starting points frame and orient their work. Résumé Après un argumentaire dans le cadre de ce symposium sur la crise des subprimes et le marché des prêts hypothécaires, ce texte de clôture propose deux axes de dialogue. D’abord, ces articles ont un thème en commun: tous insistent sur le fait que, pour comprendre l’évolution de la crise des subprimes, il fait tenir compte des dynamiques racialisées et complexes de l’inégalité sociale dans l’espace urbain. Cette optique, que nous appellerons ‘problématique urbaine’, est partagée par les auteurs réunis ici; toutefois, son absence est flagrante dans beaucoup d’autres versions des origines de cette crise. Il en découle deux axes de dialogue. Le premier part de l’interrogation suivante: si cette problématique est si forte, pourquoi n’imprègne‐t‐elle pas toutes les analyses de la crise des subprimes en sciences sociales et en économie? Le second cherche pourquoi les échanges actuels ne sont pas plus riches entre les spécialistes en sciences sociales intéressés par la problématique urbaine d’un côté, et les économistes hétérodoxes de l’autre. Un renforcement des échanges interdisciplinaires serait bénéfique, ce qui impliquerait de donner une visibilité— puis une prépondérance —à certaines disjonctions sous‐jacentes dans les façons dont ceux qui traitent ces problèmes sous des angles différents élaborent et orientent leurs travaux.

Suggested Citation

  • Gary A. Dymski, 2009. "Afterword: Mortgage Markets and the Urban Problematic in the Global Transition," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 33(2), pages 427-442, June.
    • Handle: RePEc:bla:ijurrs:v:33:y:2009:i:2:p:427-442
    DOI: 10.1111/j.1468-2427.2009.00869.x
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    References listed on IDEAS

    as
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    2. Thomas Wainwright, 2009. "Laying the Foundations for a Crisis: Mapping the Historico‐Geographical Construction of Residential Mortgage Backed Securitization in the UK," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 33(2), pages 372-388, June.
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    15. Manuel B. Aalbers, 2009. "The Globalization and Europeanization of Mortgage Markets," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 33(2), pages 389-410, June.
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    20. Jesus Hernandez, 2009. "Redlining Revisited: Mortgage Lending Patterns in Sacramento 1930–2004," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 33(2), pages 291-313, June.
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    2. Kathe Newman & Alex Schafran, 2013. "Assessing the Foreclosure Crisis From the Ground Up," Housing Policy Debate, Taylor & Francis Journals, vol. 23(1), pages 1-4, January.
    3. Jaime Palomera, 2014. "How Did Finance Capital Infiltrate the World of the Urban Poor? Homeownership and Social Fragmentation in a Spanish Neighborhood," International Journal of Urban and Regional Research, Wiley Blackwell, vol. 38(1), pages 218-235, January.
    4. Siân Butcher, 2020. "Creating a gap that can be filled: Constructing and territorializing the affordable housing submarket in Gauteng, South Africa," Environment and Planning A, , vol. 52(1), pages 173-199, February.
    5. Jesús M. González-Pérez, 2022. "Evictions, Foreclosures, and Global Housing Speculation in Palma, Spain," Land, MDPI, vol. 11(2), pages 1-26, February.
    6. Martha A. Starr, 2010. "Increasing the Impact of Heterodox Work: Insights from RoSE," American Journal of Economics and Sociology, Wiley Blackwell, vol. 69(5), pages 1453-1474, November.
    7. Gutierrez Garza, Ana Paola, 2019. "Te lo tienes que currar: enacting an ethics of care in times of austerity," LSE Research Online Documents on Economics 102294, London School of Economics and Political Science, LSE Library.

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