The article explores different cycles of the financialization of housing and the role housing movements play in challenging it in the Lisbon Metropolitan Area. It describes how the financialization of housing has developed historically by referring to spatial-temporal dynamics and discusses how housing movements, focusing on the case of Habita, seek to challenge its processes and impacts. Exploring specific cases of struggles and strategic and tactics developed by Habita, it argues that, despite an enormous imbalance of power and constraints of agency, have succeeded in contesting and interrupting some rent and financial extraction processes and impeding some further commodification of housing. However, their achievements can be considered insufficient, precarious or temporary, as they fail to change the underlying structural dynamics. On the other hand, they questioned the basis of the accumulation process and the role of the state, fostered the right to housing, and were important mobilizers of different subjectivities, denaturalizing and questioning the dominant paths, showing the possibility of building alternatives to the financialization and commodification of housing. Methodologically, the article draws on ethnographic and activist research. The study contributes to the body of literature on the variegation of the financialization of housing, its specific processes, politics and impacts and social movements strategies and outcomes, highlighting experiences from Lisbon, a European periphery and a city "off the map" (Robinson, 2002) in terms of urban theory-making.

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financialization of housing,social movements,state,evictions.