Financialization of housing and the right to adequate housing 2017, para. 67
Paragraph- Paragraph text
- Policy responses to the financialization of housing have tended to prioritize support for financial institutions over responding to the needs of those whose right to adequate housing is at stake. Spending on bailouts of banks and financial institutions after the 2008 financial crisis far outstripped spending to provide assistance to the victims of the crisis. In fact, many national Governments made substantial cuts to their housing programmes. As noted above, the World Bank continues to promote "financial liberalization" rather than active State intervention in housing provision in emerging economies, despite the evidence that financialization generally increases inequality and fails to address the needs of the millions of households living in situations of homelessness or grossly inadequate informal housing.
- Legal status
- Non-negotiated soft law
- Body
- Special Rapporteur on adequate housing as a component of the right to an adequate standard of living
- Document type
- Special Procedures' report
- Means of adoption
- N.A.
- Topic(s)
- Governance & Rule of Law
- Humanitarian
- Poverty
- Person(s) affected
- All
- Year
- 2017
- Paragraph type
- Other
- Reference
- SR Housing, Report to the HRC (2017), A/HRC/34/51, para. 67.
- Paragraph number
- 67
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Date added
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