Production of Paper Homes: The gears of Real Estate Securitization in Brazil.
Autor(a) principal: | |
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Data de Publicação: | 2020 |
Outros Autores: | , |
Tipo de documento: | Artigo |
Idioma: | por |
Título da fonte: | Repositório Institucional da UNESP |
Texto Completo: | http://dx.doi.org/10.4000/confins.33013 http://hdl.handle.net/11449/209029 |
Resumo: | This article offers an analysis in the expansion of the financialization process from Brazilian Real State sector. It aims to contribute to the debate regarding the mechanisms which turn a physical asset, with low liquidity and high transaction cost, on an asset with high liquidity and free of barriers to its circulation, with emphasis on types of contracts and securitised debts subordinating indicators of housing production, combined with expectations of financial market gain and different real estate markets integration through standardization and compilation of real estate debts into a single securitization term. This applies to the geographical scale of the country and is focused on a particular financial instrument, the Real Estate Receivables Certificates (CRI), regulating the range of transformations that have come to integrate, structure and coordinate Brazilian real estate investments. The total amount of CRI issued between 2011 and 2016 is taken into account, pointing out not only the importance of Caixa Economica Federal bank of Brazil but also the role of house financing agent. Thus, the location in gated housing areas are also detailed, further exploring the dimensions of product homogenization, spatial dissemination and territorial selectiveness which they gradually produce, sell and move these paper houses around. |
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Production of Paper Homes: The gears of Real Estate Securitization in Brazil.SecuritizationFinancingReal Estate AssetsHousingBrazilThis article offers an analysis in the expansion of the financialization process from Brazilian Real State sector. It aims to contribute to the debate regarding the mechanisms which turn a physical asset, with low liquidity and high transaction cost, on an asset with high liquidity and free of barriers to its circulation, with emphasis on types of contracts and securitised debts subordinating indicators of housing production, combined with expectations of financial market gain and different real estate markets integration through standardization and compilation of real estate debts into a single securitization term. This applies to the geographical scale of the country and is focused on a particular financial instrument, the Real Estate Receivables Certificates (CRI), regulating the range of transformations that have come to integrate, structure and coordinate Brazilian real estate investments. The total amount of CRI issued between 2011 and 2016 is taken into account, pointing out not only the importance of Caixa Economica Federal bank of Brazil but also the role of house financing agent. Thus, the location in gated housing areas are also detailed, further exploring the dimensions of product homogenization, spatial dissemination and territorial selectiveness which they gradually produce, sell and move these paper houses around.Univ Estadual Julio Mesquita Filho, Sao Paulo, BrazilUniv Estadual Paulista, Sao Paulo, BrazilUniv Estadual Julio Mesquita Filho, Sao Paulo, BrazilUniv Estadual Paulista, Sao Paulo, BrazilRevues OrgUniversidade Estadual Paulista (Unesp)Abreu, Marlon Altavini de [UNESP]Melazzo, Everaldo Santos [UNESP]Souza Ferreira, Joao Vitor de [UNESP]2021-06-25T11:46:16Z2021-06-25T11:46:16Z2020-01-01info:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/article17http://dx.doi.org/10.4000/confins.33013Confins-revue Franco-bresilienne De Geographie-revista Franco-brasileira De Geografia. Paris: Revues Org, v. 47, 17 p., 2020.1958-9212http://hdl.handle.net/11449/20902910.4000/confins.33013WOS:000600284200018Web of Sciencereponame:Repositório Institucional da UNESPinstname:Universidade Estadual Paulista (UNESP)instacron:UNESPporConfins-revue Franco-bresilienne De Geographie-revista Franco-brasileira De Geografiainfo:eu-repo/semantics/openAccess2021-10-23T19:23:28Zoai:repositorio.unesp.br:11449/209029Repositório InstitucionalPUBhttp://repositorio.unesp.br/oai/requestopendoar:29462024-08-05T20:49:30.827309Repositório Institucional da UNESP - Universidade Estadual Paulista (UNESP)false |
dc.title.none.fl_str_mv |
Production of Paper Homes: The gears of Real Estate Securitization in Brazil. |
title |
Production of Paper Homes: The gears of Real Estate Securitization in Brazil. |
spellingShingle |
Production of Paper Homes: The gears of Real Estate Securitization in Brazil. Abreu, Marlon Altavini de [UNESP] Securitization Financing Real Estate Assets Housing Brazil |
title_short |
Production of Paper Homes: The gears of Real Estate Securitization in Brazil. |
title_full |
Production of Paper Homes: The gears of Real Estate Securitization in Brazil. |
title_fullStr |
Production of Paper Homes: The gears of Real Estate Securitization in Brazil. |
title_full_unstemmed |
Production of Paper Homes: The gears of Real Estate Securitization in Brazil. |
title_sort |
Production of Paper Homes: The gears of Real Estate Securitization in Brazil. |
author |
Abreu, Marlon Altavini de [UNESP] |
author_facet |
Abreu, Marlon Altavini de [UNESP] Melazzo, Everaldo Santos [UNESP] Souza Ferreira, Joao Vitor de [UNESP] |
author_role |
author |
author2 |
Melazzo, Everaldo Santos [UNESP] Souza Ferreira, Joao Vitor de [UNESP] |
author2_role |
author author |
dc.contributor.none.fl_str_mv |
Universidade Estadual Paulista (Unesp) |
dc.contributor.author.fl_str_mv |
Abreu, Marlon Altavini de [UNESP] Melazzo, Everaldo Santos [UNESP] Souza Ferreira, Joao Vitor de [UNESP] |
dc.subject.por.fl_str_mv |
Securitization Financing Real Estate Assets Housing Brazil |
topic |
Securitization Financing Real Estate Assets Housing Brazil |
description |
This article offers an analysis in the expansion of the financialization process from Brazilian Real State sector. It aims to contribute to the debate regarding the mechanisms which turn a physical asset, with low liquidity and high transaction cost, on an asset with high liquidity and free of barriers to its circulation, with emphasis on types of contracts and securitised debts subordinating indicators of housing production, combined with expectations of financial market gain and different real estate markets integration through standardization and compilation of real estate debts into a single securitization term. This applies to the geographical scale of the country and is focused on a particular financial instrument, the Real Estate Receivables Certificates (CRI), regulating the range of transformations that have come to integrate, structure and coordinate Brazilian real estate investments. The total amount of CRI issued between 2011 and 2016 is taken into account, pointing out not only the importance of Caixa Economica Federal bank of Brazil but also the role of house financing agent. Thus, the location in gated housing areas are also detailed, further exploring the dimensions of product homogenization, spatial dissemination and territorial selectiveness which they gradually produce, sell and move these paper houses around. |
publishDate |
2020 |
dc.date.none.fl_str_mv |
2020-01-01 2021-06-25T11:46:16Z 2021-06-25T11:46:16Z |
dc.type.status.fl_str_mv |
info:eu-repo/semantics/publishedVersion |
dc.type.driver.fl_str_mv |
info:eu-repo/semantics/article |
format |
article |
status_str |
publishedVersion |
dc.identifier.uri.fl_str_mv |
http://dx.doi.org/10.4000/confins.33013 Confins-revue Franco-bresilienne De Geographie-revista Franco-brasileira De Geografia. Paris: Revues Org, v. 47, 17 p., 2020. 1958-9212 http://hdl.handle.net/11449/209029 10.4000/confins.33013 WOS:000600284200018 |
url |
http://dx.doi.org/10.4000/confins.33013 http://hdl.handle.net/11449/209029 |
identifier_str_mv |
Confins-revue Franco-bresilienne De Geographie-revista Franco-brasileira De Geografia. Paris: Revues Org, v. 47, 17 p., 2020. 1958-9212 10.4000/confins.33013 WOS:000600284200018 |
dc.language.iso.fl_str_mv |
por |
language |
por |
dc.relation.none.fl_str_mv |
Confins-revue Franco-bresilienne De Geographie-revista Franco-brasileira De Geografia |
dc.rights.driver.fl_str_mv |
info:eu-repo/semantics/openAccess |
eu_rights_str_mv |
openAccess |
dc.format.none.fl_str_mv |
17 |
dc.publisher.none.fl_str_mv |
Revues Org |
publisher.none.fl_str_mv |
Revues Org |
dc.source.none.fl_str_mv |
Web of Science reponame:Repositório Institucional da UNESP instname:Universidade Estadual Paulista (UNESP) instacron:UNESP |
instname_str |
Universidade Estadual Paulista (UNESP) |
instacron_str |
UNESP |
institution |
UNESP |
reponame_str |
Repositório Institucional da UNESP |
collection |
Repositório Institucional da UNESP |
repository.name.fl_str_mv |
Repositório Institucional da UNESP - Universidade Estadual Paulista (UNESP) |
repository.mail.fl_str_mv |
|
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1808129255384547328 |