Real estate finance captures creative commons value through indirect enclosure

Evidence

Rather, the financial sector functions as a realm to explore and to experiment with means for capturing creative energies more broadly. If we understand the sought-after and distinctive dimensions of creative neighbourhoods – their networks of cooperating individuals and institutions – as a kind of commons, real-estate speculation both enables and profits from a nuanced form of enclosure. Finance permits the commodification of these creative commons indirectly, selling individuals and firms access to unique and attractive neighbourhoods along with the promise of higher future returns as property prices increase. — Max Haiven, Cultures of Financialization, 467

Categorization

• XREF: Directly continues the enclosure-of-commons mechanism central to finance’s colonization of culture — bridges to deWaard’s cultural argument about financialization. — connects to: Financialization lets capital extract value from social life without destroying its creative source ecosystems — Max Haiven, Cultures of Financialization, 572; Influencer homes are sites of property speculation and value extraction — Grant Bollmer, Katherine Guinness, The Influencer Factory: A Marxist…, 124; Finance creatively generates new forms of social and political life — Aris Komporozos-Athanasiou, Speculative Communities: Living With…, 98 (+3 more)
• SEED: Angle: ‘The creativity subsidy’ — how artists gentrify neighborhoods and are then priced out, with finance capturing the surplus their presence created.

Broader Connections

• Financialization lets capital extract value from social life without destroying its creative source ecosystems #corroborates (0.85) — Max Haiven, Cultures of Financialization, 572
• Financialization captures and encloses human creative capacity through debt #corroborates (0.85) — Max Haiven, Cultures of Financialization, 390
• Influencer homes are sites of property speculation and value extraction #exemplifies (0.80) — Grant Bollmer, Katherine Guinness, The Influencer Factory, 124
• Capital profits from local cultural uniqueness while destroying it via gentrification and homogenization #corroborates (0.80) — Max Haiven, Cultures of Financialization, 463
• Finance creatively generates new forms of social and political life #expands (0.75) — Aris Komporozos-Athanasiou, Speculative Communities, 98