Households signal financialization through risk-taking, relaxed debt attitudes, and speculative strategies

Evidence

Empirically, this means that more households began to look at their income and wealth as assets to be deployed. They also learned to embrace risk-taking and to relax their attitudes towards taking on debt. These attitudinal shifts were accompanied by a set of concrete financial strategies to accomplish this end. Active stock trading, using leveraged home equity to fund investments, and investing in real estate (‘house flipping’) are all indicators of a more thoroughly financialized repertoire. — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 48

Categorization

• XREF: The concrete repertoire list (home-equity leverage, stock trading, house flipping) directly evidences the financialization-of-everyday-life theme I’m tracking — the household as speculative investor. — connects to: Household financialization involves adopting new entrepreneurial mindsets, not just buying more financial products. — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 17; Financialization also operates as a cultural shift toward entrepreneurial self-management of household finances. — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 19; Households are pushed into financial markets that promise lifestyle advancement. — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 34 (+15 more)

Related

• Household financialization involves adopting new entrepreneurial mindsets, not just buying more financial products. (similarity 0.90)
• Households are pushed into financial markets that promise lifestyle advancement. (similarity 0.88)
• Financialized risk-taking is concentrated in the upper middle class, not spread across all earners (similarity 0.86)
• Most US households stayed averse to financial risk even during the 1990s boom (similarity 0.86)
• Financialization also operates as a cultural shift toward entrepreneurial self-management of household finances. (similarity 0.85)
• Financialization forced households to adopt a proactive finance culture beyond just consuming more debt. (similarity 0.84)
• Acceptance of debt and risk differs sharply by socioeconomic class (similarity 0.83)
• Financialization expanded by selling financial products directly to households (similarity 0.83)
• Upper-middle households increasingly treated homes as leverage assets. (similarity 0.83)
• Households adopted active financial management under either necessity, opportunity, or both. (similarity 0.83)
• Financial risk-taking emerges in middle classes as a response to top-end inequality. (similarity 0.83)
• Financialization of households is stratified by class, not uniform (similarity 0.82)
• Households borrowed heavily to preserve their lifestyles amid economic insecurity. (similarity 0.82)
• Research on household financialization remains fragmented across separate markets (similarity 0.81)
• The erosion of pensions and benefits pushed households toward commercial financial products. (similarity 0.81)

Broader Connections

• Financialization means finance’s logics penetrate the fabric of everyday life #expands (0.75) — Max Haiven, Cultures of Financialization, 72
• Acceptance of debt and risk differs sharply by socioeconomic class #qualifies (0.72) — Neil Fligstein & Adam Goldstein, The Emergence of a Finance Culture in…, 120