ESSAY QUESTION 1
1. In
what ways has the financialisation of housing impacted affordability and what
are the consequences for tackling housing inequality?
This question relates mainly to the Day 4 theme – Financialisation and
housing in the economy – and to the quotation below:
‘Nowhere is the need for making opportunity more equal more
urgent than in housing’, (Department for Levelling Up, Housing and Communities,
2022, Levelling up the United KingdomLinks to an external site., p221, London:
DLUHC).
This Westminster Government paper introduced a UK wide
strategy for ‘levelling
up’ economic opportunities. It is a lengthy document but has an executive summary and
you can also focus on the
sections which relate specifically to housing. The housing policy
issues relate to England, but the issues and the essay question can be
interpreted in relation to the Scottish or other context. The essay question asks you to
think about the process of
financialisation which has shaped housing and the wider economy and consider
what this means for addressing housing inequality.
The
topic embrace issues of financialisation and inequality in
the housing system, the effectiveness of the levelling-up approach, what are
the goals or targets of
Levelling Up, and the opportunity to consider what should/could be done about housing inequality.
We will explore the topic in more
depth on day 4.
Structural analysis – focus on whole of society
(interdependency)
o
Social inclusion – not just income – overall
well-being
o
What makes a good society? Social Justice?
Equality?
o
In what ways might housing policy change
contribute to reducing wealth inequality?
o
In what ways might housing policy contribute to
increased wealth inequality?
o
Housing not part of analysis.
o
Income and wealth inequality, structured by
tenure
o
Importance/erosion of housing benefit for
low-income renters
o
Increasing variation within home ownership
o
Asset based welfare highly constrained,
intergenerational transfers, interdependent housing careers
o
Housing opportunities for low paid and workless
increasingly constrained
o
Housing policies – limited mitigation of
employment inequalities
Further
useful references for introductory reading:
Archer, T. and Cole, I.
(2023) The invisible hand that keeps on taking: Value extraction from large
housebuilders and its impact on the UK Housing system. Centre for Regional
Economic and Social Research, Sheffield Hallam University. The invisible hand that
keeps on taking
Soaita, A., Gibb, K.
Maclennan, D. (2019) Housing wealth
inequalities in Scotland a evidence review. Glasgow: UK Collaborative Centre
for Housing Evidence (CaCHE). Housing Wealth Inequalities
Wijburg, G. (2021) The
de-financialization of housing: towards a research agenda, Housing Studies,
36:8, 1276-1293, DOI: 10.1080/02673037.2020.1762847
Further reading
Anderson, I. and Sim, D.
(eds) 2011, Housing and Inequality. Coventry: CIH
Bradshaw, J., Chzen, Y. and Stephens, M. (2010), Housing:
the saving
Francis-Devine, B.
(2021) Income Inequality in the UK. London: House of Commons Library. Income
inequality in the UK
Scottish Government
(2021) Housing to 2040 document Housing to 2040 – gov.scot (www.gov.scot)
(Links to an external site.)Stephens. M. and Fitzpatrick, S. (2010) Housing markets. Brussels: European Commission.
Wilkinson, R. and Pickett, K. (2009) The Spirit Level: Why
more equal societies do better. London: Allen Lane
Bramley, G. and
Fitzpatrick, S. (2017) Homelessness in the UK: who is most at risk? Housing
Studies, 33(1), pp96-116.
https://doi.org/10.1080/02673037.2017.1344957
Maclennan, D., Ong, R.
and Wood, G. (2015) Making Connections: housing, productivity and economic
development. Melbourne: Australian
Housing and Urban Research Institute.
https://www.ahuri.edu.au/sites/default/files/migration/documents/AHURI_Final_Report_No251_Making-connections-housing%2C-productivity-and-economic-development.pdfLinks
to an external site.
REFLECTIVE
WRITING – FORMATIVE ASSESSMENT
Percentage of overall mark: 0%
Word count: 300 words max
Drawing on your lived experience, prior studies and/or work
experience, to what extent has your learning across the module challenged or
changed your perceptions of the financial and strategic issues which underpin
the housing sector? How has your learning developed in relation to using and
interpreting financial and quantitative data? And what further learning, or
skills development may you still want to achieve in this field?
Additional information: this
should be uploaded with your essay assignment.
Simply add it to the end of your essay (within same document) and submit
as one single file.
Reference: Harvard Stirling University referencing style