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Banking on a RevolutionWhy Financial Technology Won't Save a Broken System$
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Terri Friedline

Print publication date: 2021

Print ISBN-13: 9780190944131

Published to Oxford Scholarship Online: December 2020

DOI: 10.1093/oso/9780190944131.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2021. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 24 October 2021

Corporate Landlords and the Climate Crisis

Corporate Landlords and the Climate Crisis

(p.76) 4 Corporate Landlords and the Climate Crisis
Banking on a Revolution

Terri Friedline

Oxford University Press

This chapter explores the nexus of finance and climate change by examining the concurrent rise of extreme weather disasters and corporate landlords. Wealthy, white corporate investors use their financial resources to profit from extreme weather. In the wake of hurricanes and floods in Lumberton, North Carolina, corporate investors swooped in to buy single-family homes and rent them out for profit. These landlords have created precarious housing for Lumberton’s Black, Brown, and lower-income white families, who were more likely to be displaced by extreme weather and then were forced to put more of their comparatively lower incomes toward rent. Corporate landlords’ speculation on single-family rentals around the country capitalizes on the racialized displacement that will likely worsen with climate change.

Keywords:   climate change, corporate landlords, Wall Street landlords, financialization, segregation, environmental racism

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