FINANCIALIZATION OF HOUSING – Accumulation by Dispossession 

Here we clearly see the sordid effects of Financialization by greedy investors bent on accumulation by dispossession and the effects on the most vulnerable, low-income seniors, as reported by CBC News.

Improve the quality of affordable housing. Don’t victimize and punish low-income seniors whose backs are against the wall.

FIGHT BACK! Force your city council to create ANTI-RENOVICTION Bylaws!
RENTAL-ONLY ZONING will protect affordable housing.

The NDP government’s changes to the Residential Tenancy Act are now being upheld by the judicial system. The Act WORKS and is enforceable by both levels of the judicial system!

The City of New Westminster has emerged victorious in a Supreme Court of British Columbia challenge over the use of residential rental tenure zoning. In July 2018, the province enacted rental tenure zoning authority to enable protection of the rental tenures in existing apartment buildings.

Accumulation by Dispossession is a concept developed by the Marxist geographer David Harvey. It defines neoliberal capitalist policies that result in the centralization of wealth and power in the hands of a few by dispossessing the public and private entities of their wealth or land. Such policies are visible in many western nations from the 1970s to the present day.

Harvey argues that these policies are guided mainly by four practices:
1.         privatization
2.         financialization
3.         management and manipulation of crises, and
4.         state redistributions.

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