Financialization of housing and the right to adequate housing 2017, para. 21
Paragraph
Paragraph text
The 2008 global financial crisis revealed the fragility, volatility and predatory nature of financialized housing markets and the potential for catastrophic outcomes both for individual households and for the global economy. In the United States of America, there were an average of 10,000 foreclosures per day in 2008, and as many as 35 million individuals were affected by evictions over a five-year period. Not only had people lost their homes but they faced personal financial ruin.
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
Person(s) affected
All
Year
2017
Paragraph type
Other
Reference
SR Housing, Report to the HRC (2017), A/HRC/34/51, para. 21.