Dear colleagues,

Last month the book “Subprime Cities: The Political Economy of Mortgage Markets” was published: http://eu.wiley.com/WileyCDA/WileyTitle/productCd-1444337777.html

It’s an edited volume with contributions from political economists, human geographers and urban sociologists. It features a foreword by David Harvey and contributions by Saskia Sassen, Herman Schwartz, Gary Dymski and many others. Besides an introduction and conclusion, the book consists of two major parts, the first dealing with “The Political Economy of the Mortgage Market” and the second with “Cities, Race, and the Subprime Crisis”. Several chapters focus on the U.S., while others focus on the U.K., the E.U. and global perspectives. Please find the table of contents and the two back cover reviews below. You can find a sample chapter (pdf) online.

There are paperback, hardcover and e-book editions available. The paperback edition is reasonably prices. I hope you will also consider this book for teaching purposes.

Best wishes,

Manuel

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Manuel B. Aalbers, Ph.D.
University of Amsterdam
Department of Geography, Planning and International Development Studies
Nieuwe Prinsengracht 130
1018 VZ  Amsterdam
The Netherlands
http://home.medewerker.uva.nl/m.b.aalbers/

"There has, prior to the publication of this book on Subprime Cities, been very little concern for examining and interpreting this sequence of events and explaining the role of urbanization and financialization (along with rent-seeking) in this whole dynamic. What this book does is to begin upon the complex task of exploring and explaining the urban roots of crisis formation in general and of the dynamics of the most recent crisis in particular. We have here an astonishing and revelatory understanding of the urban roots of the fiscal crisis."
—From the foreword by David Harvey, Graduate Center, City University New York

“Subprime Cities reveals how the fate of metropolitan areas has long been and continues to be intricately intertwined with the opaque dealings of financial institutions. More importantly, this book exposes deep, fundamental structural barriers that persist and must be challenged before we can bring some rationality to financial service industries in a manner that will lead to more balanced and equitable development of those communities.”
—Gregory D. Squires, George Washington University

TABLE OF CONTENTS

Foreword: The Urban Roots of the Financial Crisis xiii
David Harvey

Part I Introduction 1

Subprime Cities and the Twin Crises 3
Manuel B. Aalbers

Part II The Political Economy of the Mortgage Market 23

1 Creating Liquidity Out of Spatial Fixity: The Secondary Circuit of Capital and the Restructuring of the US Housing Finance System 25
Kevin Fox Gotham

2 Finance and the State in the Housing Bubble 53
Herman Schwartz

3 Expanding the Terrain for Global Capital: When Local Housing Becomes an Electronic Instrument 74
Saskia Sassen

4 Building New Markets: Transferring Securitization, Bond-Rating, and a Crisis from the US to the UK 97
Thomas Wainwright

5 European Mortgage Markets Before and After the Financial Crisis 120
Manuel B. Aalbers

6 The Reinvention of Banking and the Subprime Crisis: On the Origins of Subprime Loans, and How Economists Missed the Crisis 151
Gary A. Dymski

Part III Cities, Race, and the Subprime Crisis 185

7 Redlining Revisited: Mortgage Lending Patterns in Sacramento 1930–2004 187
Jesus Hernandez

8 The New Economy and the City: Foreclosures in Essex County New Jersey 219
Kathe Newman

9 Race, Class, and Rent in America’s Subprime Cities 242
Elvin Wyly, Markus Moos, and Daniel J. Hammel

Part IV Conclusion 291

10 Subprime Crisis and Urban Problematic 293
Gary A. Dymski

Glossary 315

http://eu.wiley.com/WileyCDA/WileyTitle/productCd-1444337777.html

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