Financialization of Housing
This is a short essay I wrote for a Coursera course called Financial Markets by Dr. Shiller Sterling, Professor of Economics at Yale University concerning this report about Financialization of Housing from UN Special Rapporteur Leilani Farha . The following is the essay word for word United Nations Human Rights Council's 2017 report discusses financialization of housing which is the paradigm shift that happened to houses changing it from a place of residence to a financial instrument used to trade and create wealth. The report focuses only on the negative side of financialization of housing implying that it “exacerbates inequality and social exclusion, dehumanizes housing, undermines democratic governance” and the rapporteur suggests that the solution is that the state must “ regulate , direct and engage” with the private market. On the other hand, a country managed to find a solution to this problem without no further regulations: Egypt. Financialization of housing ...