The book presents an analysis of the process through which land ownership in Brazil is transformed into a financial asset, driven by the expansion of real estate debt securitization instruments. The objective is to examine the specific characteristics of the financialization of the Brazilian real estate sector through securitization, highlighting the historical role of property in shaping social wealth and poverty, as well as its materialization in both metropolitan and non-metropolitan contexts. The analysis is guided by the hypothesis that the growing convergence between the real estate and financial sectors in Brazil has generated logics, instruments, and mechanisms that are increasingly present—albeit selectively and with varying intensities—throughout the national territory, capturing cities of different sizes and positions within the urban hierarchy. In this context, the study demonstrates how securitization in the real estate sector operates as a financial instrument capable of turning property into a tradable asset, analogous to a financial asset. Throughout the argument, it is emphasized that the persistent effort to transform land into a financial asset in Brazil takes place in combination with historical and geographical conditions that place land ownership—and, consequently, landowners—in a privileged position within the country’s economic trajectory.

The book stands out for its theoretical and historical depth, establishing an important dialogue with international literature while carefully recovering classic Brazilian contributions. This proposed articulation provides a solid foundation for the development of the empirical research, which is notable for its comprehensive data systematization and meticulous georeferencing work. Given its theoretical and methodological rigor, the book offers an original contribution to the field of financialization studies, representing a twofold extension of this field. On the one hand, it advances research on the financialization of housing production by emphasizing housing as real estate property. On the other, it complements studies that have focused on the impacts of financialization on the built environment and urbanization, revealing new geographies of this process. The syntheses presented at the end of each chapter—built upon valuable historical periodizations—also constitute a significant contribution of the work, positioning it as a reference for the development of future research. - Maria Beatriz Cruz Rufino, Professor at the Faculty of Architecture and Urbanism, University of São Paulo (FAU/USP)