TeleSUR Reports – 1. Speculation and Real Estate Bubbles

This is the first chapter of a new report entitled “Resisting the Capitalistic City.” In 2007, the United States real estate bubble burst, leaving thousands facing foreclosure. Spain entered into crisis in 2008. This report explores possible political and legislative factors behind these bubbles and contrasts them with the situation in Brazil, where the financial system is more flexible and people are not familiar with the indebtedness culture. The report also takes a look at the Foreclosure Resisters project, an example of debt resistance now taking place in several U.S. cities. teleSUR