Geography of evictions in Spain: The resale properties owned by the SAREB as an indicator of post-crisis urban inequality

Identifier:  TFM:429

Handle: https://hdl.handle.net/20.500.11797/TFM429

Authors:  Domènech Montaña, Antoni

Abstract:
In Spain the strong momentum of real production between mid 90's and 2007 generated the largest housing and credit bubble in history. The financing of the economy, the overindebtedness of families associated with the mortgage and the arrival of the financial and real estate crisis assumed the bursting of the housing bubble. Thereafter the predatory logic of the Spanish property model became evident: the spread of defaults on mortgage loans granted resulted in one of the most serious consequences of the end of the Spanish property upcycle: the proliferation of evictions. The work presented here highlights the uneven development of the mortgage crisis in the Spanish cities through data mining of housing stock coming from foreclosures in the hands of the SAREB. The methodology designed allows a territorial analysis of the distribution of housing property of SAREB for all municipalities in the Spanish territory, and specifically in the cities of Madrid and Valencia. By doing it, it is possible to identify the areas of the Spanish geography with a particular affectation process of dispossession of housing and neighborhoods in the study cities that tend to concentrate it. The results show that there are some underlying territorial and socio-demographic processes that draw patterns of concentration of evictions. Thus, it is identified that evictions are tending to focus on those urban areas that during the property boom period were more dynamic in terms of urban expansionism and exposure to mortgage credit. But are also detected those neighborhoods in the cities of Madrid and Valencia, which have historically presented a more vulnerable economic and social structures, such as those which bind more evictions (deepening their precarious situation).