The European Action Coalition is launching a campaign against the financialization of housing.
The financialisation of housing is the result of the expansion of neo-liberal capitalism and its propensity for the commodification of all spheres of life. Neo-liberal deregulation favors the private sector by appropriating housing and transforming it into a commodity.
The complete transformation of housing into goods, not only a commodity in the real estate markets, but also in the financial markets. This transformation allows speculation as well as the reduction of the social function of housing, both as an essential social need and a fundamental human right.
In addition, a mixture of new laws and deregulation facilitates the possibility for the private sector to financialize and allow speculation.
Against the power of finance in housing and in cities. We decided to have a broad-based campaign that talks about the many forms of financialisation, and gave a lot of scope for member groups to push on their own issues. Though this there was general agreement to have an awareness-raising campaign that included local struggles.