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Homeownership-Based Welfare in Transition

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Ronald R., Kadi J., Lennartz C.

Critical Housing Analysis

2015

vol. 2

issue 1

52-64

Welfare-state restructuring featuring the use of equity held in owner-occupied housing assets to offset declining public welfare resources and diminishing pension reserves – a form of ‘homeownership-based welfare’ – has become increasingly prominent in many developed economies in recent decades. This paper, focusing on the UK, examines the shifting position of homeownership, arguing that while the private home has become a key component of welfare restructuring, both owner-occupation and housing equity have become more polarised in the last decade, especially across cohorts. A particular concern is whether passive homeownership-based welfare switching strategies have become more active, or even pro-active, strategies to housing property accumulation as a means to compensate for welfare state retrenchment and anticipated pension shortfalls leading up to and since the Global Financial Crisis. We identify the significance of the rapid advance of a ‘generation landlord’ in the recent development of ‘generation rent’.

Short-term rentals, housing markets and COVID-19: theoretical considerations and empirical evidence from four Austrian cities

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Kadi J., Schneider A., Seidl R.

Critical Housing Analysis

2020

vol. 7

issue 2

47-57

Prior to the onset of the pandemic, evidence on the conversion of regular rental housing into permanent holiday homes has fuelled concerns that Airbnb and other short-term rentals contribute to the shortage of affordable homes and to the displacement of regular residents in cities with high housing demand. When the pandemic set in, the media was quick to speculate that holiday homes would be returned to the regular rental market. This paper provides some theoretical reflections on the factors that are driving and impeding such a development and presents preliminary results from an ongoing research project that empirically tracesthe impacts of COVID-19 on the rental housing market based on an analysis of real estate listings in four large Austrian cities. We argue that a current shift to the regular rental market is likely, but that the medium- and long-term development is uncertain. Empirically, we demonstrate that such a shift has occurred in all four cities considered. We do not find evidence, however, that the increased rental housing supply has dampened rent levels.

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2 Critical Housing Analysis

2 Kadi J.

1 Lennartz C.

1 Ronald R.

1 Schneider A.

1 Seidl R.

1 2020

1 2015

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Homeownership-Based Welfare in Transition

Short-term rentals, housing markets and COVID-19: theoretical considerations and empirical evidence from four Austrian cities