Varieties of Residential Capitalism in the International Political Economy: Old Welfare States and the New Politics of Housing

Schwartz, Herman; Seabrooke, Leonard

doi:10.1057/cep.2008.10

Cited by 268 publications

(204 citation statements)

References 29 publications

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“…It has been noted in the social science literature that although the rise of homeownership has been widespread across advanced economies in recent decades (Schwartz & Seabrooke, ; Ronald & Elsinga, ; Aalbers, ), access to the owner‐occupied sector has often been stratified unevenly across generations (Forrest & Yip, ). This means that already up until the Global Financial Crisis (GFC) of 2008, opportunities for younger adults in stepping onto and moving up the ‘housing ladder’ towards property ownership had been in decline.…”

Section: Introductionmentioning

confidence: 99%

Younger Adults and Homeownership in Europe Through the Global Financial Crisis

Lennartz

Arundel

Ronald

2015

Population Space and Place

179

184

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In the context of poorly performing national economies and sustained employment insecurity since the Global Financial Crisis of 2007–2008, various UK and US studies have suggested that the transitions of younger people into independent living and into homeownership, in particular, have been in decline. Testing the wider validity of these findings for western European countries, this paper uses cross‐sectional European Union Statistics on Income and Living Conditions data to deconstruct to what extent and on which basis pre‐crisis to post‐crisis changes in the living arrangements of 18–34‐year olds have varied across 15 European Union countries. Our results confirm a common trend towards diminishing access to homeownership, bringing about larger rental sectors in many countries. Yet, we are far from observing the rise of a ‘Generation Rent’, because the stronger transformation process is one towards a higher share of younger adults living in co‐residence with their parents. Our empirical study further demonstrates that the directions of these shifts may vary strongly across countries, where the crisis has in some cases undermined existing residential patterns and forced realignment in the living arrangements among younger generations. Moreover, the study suggests that, although higher post‐crisis declines in young‐age homeownership is also associated with adverse labour market conditions, it seems to be primarily the volatility of more financialised housing markets that lead to increasing difficulties for younger people to realise housing property ownership. Copyright © 2015 John Wiley & Sons, Ltd.

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Section: Introductionmentioning

confidence: 99%

Younger Adults and Homeownership in Europe Through the Global Financial Crisis

Lennartz

Arundel

Ronald

2015

Population Space and Place

179

184

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“…Soon afterwards, access to ownership was strengthened by the development of the Spanish mortgage market. What had begun in the 1980s as a public monopoly ended up becoming a distinctly ‘liberal mortgage market', according to the category established by Schwartz and Seabrooke (). Since the Law of Securitization Vehicles of 1992, commercial banks, which had only entered this market in 1981, started to securitize their mortgage portfolios, turning the Spanish mortgage market into one of the most securitized in all of Europe (Aalbers, ).…”

mentioning

confidence: 99%

Rental as A Taste of Freedom: The Decline of Home Ownership amongst Working‐class Youth in Spain during Times of Crisis

Aramburu

2015

Int J Urban Regional Res

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Over the past few decades, as the neoliberal project gradually took hold, owning one's home became a widespread practice in Spanish society. However, the prospects of purchasing housing have since been severely reduced due to the bursting of the real estate bubble and the onset of an overwhelming economic crisis. This article analyses how working-class young people in Catalonia reflect on this phenomenon as they face their own process of moving away from home. It also considers the extent to which the spread of the so-called 'culture of ownership' represented an expression of neoliberal culture, and the extent to which the apparent dissolution of the former implies the erosion of the latter. The article concludes that home ownership has undergone a complex resignification in this sector of society, but continues to be an important aspiration insofar as the underlying conditions that originally brought it about continue to exist.

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“…At the most, these researchers acknowledge that homes are an economic asset and use aggregated data to infer a general mechanism between homeownership and welfare policy in the form of individual preferences on a variety of political issues relating to the welfare state (Kemeny ; ; Doling & Horsewood , 299–306). Even Schwartz and Seabrooke (), who call for a reassessment of the importance of housing in today’s political economies, remain suggestive about individual‐level views.…”

Section: Homeownership Left‐right Orientation and Class: Research Anmentioning

confidence: 99%

Left‐right Orientation, Homeownership and Class Position in Sweden

Davidsson¹

2018

Scand Pol Stud

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Sweden is a country where left‐right orientation structures the political landscape, homeownership is increasingly important, and the importance of class for political preferences and behavior is changing or even weakening. This article explores the significance of homeownership for left‐right orientation in Sweden, and extends the relationship to include class position. By combining detailed cross‐sectional survey data with data on regional house price variations it suggests that homes function as an economic asset that affects individual political preferences. Furthermore, the relationship between homeownership and left‐right orientation is expected to be driven by particular class groups, whose labor market position imply a more leftist orientation, while their status as homeowners imply a more rightist one. The expectation is borne out, which indicates that the asset function of homes help accounting for changing class patterns of left‐right orientation in Sweden.

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Varieties of Residential Capitalism in the International Political Economy: Old Welfare States and the New Politics of Housing

Cited by 268 publications

References 29 publications

Younger Adults and Homeownership in Europe Through the Global Financial Crisis

Younger Adults and Homeownership in Europe Through the Global Financial Crisis

Rental as A Taste of Freedom: The Decline of Home Ownership amongst Working‐class Youth in Spain during Times of Crisis

Left‐right Orientation, Homeownership and Class Position in Sweden

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