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This commentary offers some observations on and around aspects of the Financialisation Theme Issue Papers. [ABSTRACT FROM AUTHOR]

The editors of the journal Environment & Planning A: Economy and Space have announced the winners of the Ashby prizes for the most innovative papers published in the journal in 2023. The winners are Renee Tapp and Richard Peiser for their paper 'An Antitrust Framework for Housing' and Vinay Gidwani and Carol Upadhya for their paper 'Articulation work: Value chains of land assembly and real estate development on a peri-urban frontier'. The papers have been made free to access for one year. The winning papers explore topics such as monopolies in the housing market and the inter-scalar value chains of land assembly and real estate development. [Extracted from the article]

Since 2013, Permitted Development Rights (PDR) in England have allowed commercial-to-residential conversions in locations once deemed suitable only for non-residential land-use. This deregulation of planning control has been justified as a way of encouraging more home-building in areas experiencing 'housing crisis', but its overall consequences remain unclear. This paper hence compiles quantitative evidence on a city-wide scale on the price, size, build and location of these conversions in London 2013–2021. It finds that homes produced through this route are generally smaller than the London average and are over-concentrated in neighbourhoods with fewer accessible green spaces and higher-than-average levels of air pollution. Here, larger conversion schemes (of more than 10 units) appear particularly problematic, potentially subjecting residents to forms of 'slow violence' that could have long-term consequences for their physical and mental health. The paper also finds that, on average, PDR conversions are marginally more affordable than other new developments in the capital, but are also more expensive per square metre, suggesting deregulation is allowing developers to 'extract' maximum value from these schemes rather than providing affordable homes per se. The implications of this are discussed in relation to the politics of housing in London and the wider forms of planning deregulation allowing developers to accrue increased profits from housing in an era of intense financialisation. [ABSTRACT FROM AUTHOR]

Workforce housing does not reproduce all workers equally. So, what kind of workers does "workforce" housing reproduce? Whose reproduction is prioritized, whose is devalued, and how? A case study of housing access and design in three elite Vail Resorts enclaves in Colorado shows that workforce housing prioritizes the reproduction of a young, flexible androcentric workforce who can be cheaply and easily housed. Extending McIntyre and Nast's theorization of racial subsidies, I argue that resort capital awards unearned gendered subsidies to privileged workers and instantiates what Susanne Soederberg calls "displaced survival," or recursive dislocation, for women workers and those with dependents. I detail how twin processes of displaced survival and gendered subsidy emerge in resort communities using data from interviews, survey, ethnographic observation, autoethnography, and municipal records. By attending to the lived experiences of workers in this niche industry, this paper contributes to literature on geographies of exclusion and expands scholarly understandings of how the gendered political economy of labor is sedimented in housing regimes. [ABSTRACT FROM AUTHOR]

Neighbourhood-level economic inequality is thought to have important implications for social, political, and economic attitudes and behaviours. However, due to a lack of available data, to date it has been impossible to investigate how inequality varies across neighbourhoods in the UK. In this paper, I develop a novel measure of within-neighbourhood inequality in the UK by exploiting data on housing values for over 26.6 million addresses – nearly the universe of residential properties in the UK. Across two surveys, I demonstrate that housing value inequality is perceptually-salient – what people see around them in terms of housing discrepancies is associated with their beliefs about inequality. This new measure of local, salient inequality represents a powerful tool with which to investigate both the anatomy of local inequality in the UK, as well as its attitudinal and behavioural consequences. [ABSTRACT FROM AUTHOR]

This paper presents a sociology of housing developers, stressing the contingent, socially and spatially embedded nature of their practices. It complicates prevailing views of developers and demonstrates how urban development is, in fact, a spatial praxis requiring adaptability and capacities to adjust dispositions and practices to suit the particular environments in which it takes place. A growing body of work tries to understand the motivations and practices of property developers. While this has contributed to understandings of developers' networks, the ways they understand their roles and the ways different national or regional contexts shape approaches, it largely lacks a spatial perspective, and does not account for the contingency, fluidity and adaptability of developers' actions. Most importantly, it does not theorize how experiences in space shape practices. Developers are still largely presented as powerful actors who are able to exercise domination over space in relatively straight-forward, linear ways. In contrast, in this paper I demonstrate that developers are influenced by competing dynamics and agendas, and actively adapt their strategies and activities in accordance with the demands and realities of particular places. Building on the work of Centner (2008) and Marom (2014), the paper further develops the concepts 'spatial capital' and 'spatial habitus' and attempts to use them to make sense of the practices of property developers and affordable housing providers working in inner-city Johannesburg [ABSTRACT FROM AUTHOR]

Over the last decade, Greater Manchester's city-regional centre has become an important site for build to rent (BTR) housing development in the UK. The growth of this new tenure raises important empirical and conceptual questions about how far and through what means BTR has extended in post-industrial cities like Manchester, as well as how to theorise the global–local relations involved in BTR development. Drawing on a self-built database of 155 development projects incorporating 45,069 new housing units, we show that new-build BTR units have outpaced 'build to sell' (BTS) units almost two to one in Manchester's city-regional centre since 2012. We also found stronger international investment in BTR relative to BTS, illustrating BTR's more globalised and financialised form. Our paper understands BTR growth in Manchester as the outcome of a transcalar territorial network – an assemblage of national policy objectives, local state actors' urban regeneration activity and heterogenous global investor groups with different priorities all seeking a return. We highlight the important role of national and local state subsidies and local authority joint ventures in constructing a territory conducive for BTR investment in Manchester. We also show how the fungibility of BTR assets as a 'networked product' widens the investment appeal of the tenure type, broadening and deepening housing financialization. [ABSTRACT FROM AUTHOR]

This paper uses the example of First Nations housing in British Columbia to explore how culturally legitimate community economies are being advanced to overcome the deficiencies of top-down, state-led housing efforts and market relations. Through the lens of the diverse economy, we highlight how First Nations community institutions can and do serve to oversee the utilization of territorial forest resources for the production and distribution of housing materials locally. The findings point towards First Nations communities navigating (often in latent ways) complex sites of decision-making through: ethical negotiations related to (de)commoditization; needs and surplus evaluation; and transactions and rules of (in) commensurability. While these examples appear to challenge the conventional logics of capitalist-market institutions, First Nations communities also must contend with the many structural barricades to change that exist within the settler-colonial institutional framework. [ABSTRACT FROM AUTHOR]

The growing significance of housing to wealth inequality in Western societies is now well recognised and widely debated. This paper argues that understanding of the nature and causes of this problem and discussions of potential approaches to addressing it through progressive policy responses are both hampered by adopting a partial perspective on the housing question. Focusing singularly on ownership – how it has been idealised and subsidised, how it might be democratised and so forth – has led to scholars and policymakers tending to neglect the other main tenure form, in strict relation with which ownership always exists both materially and discursively: rental. We can neither understand why and how today's asset-based inequalities have materialised nor plot realistic and meaningful policy responses unless we conceptualise and approach ownership and rental relationally. Using the United Kingdom and Swedish cases as exemplars, and examining how relevant national policy realities and logics have been constructed over time, the paper further argues that the emergence of significant asset-based inequalities in recent decades is rooted in the policy-driven emergence of significant inequalities – ideological as much as economic – between tenure forms, whereby ownership has increasingly been privileged over rental. If Western societies are to have any credible prospect of reducing existing property asset-based inequalities, preventing those inequalities from being reproduced within younger generations and limiting the likelihood of the re-emergence of comparable inequalities in the future, (re)instituting principles and practices of tenure equality should be made a primary political and policy objective. [ABSTRACT FROM AUTHOR]

This paper argues that the housing affordability and wealth inequality crises facing advanced economies are driven by the emergence of a feedback cycle between finance and landed property. The cycle has been created by the increasing policy preference for private home ownership coupled with the liberalization of bank credit and accompanying financial innovation. Under such conditions, landed property becomes both the most attractive form of collateral for the banking system and the most desirable form of financial asset for households and investors. The housing–finance cycle emerged in Anglo-Saxon economies in the 1980s but has since spread to most advanced economies. Demand-side reforms, more than the supply-side reforms that dominate policy discussion, are required to break this cycle. Two reforms are discussed: (a) structural and institutional reforms to banking systems, including central banks; and (b) land policy reforms targeted at reducing the potential for rent extraction and speculative profits from property ownership. [ABSTRACT FROM AUTHOR]

This paper critically assesses international policy advocacy on how to resolve massive shelter needs in the developing world. It does so by focusing on the World Bank as a leader in development. It argues that the Bank’s housing policy remains thoroughly limited by its persistent commitment to neoliberal and financialised policy practices. These put housing finance at the centre of attempts to relieve shelter needs in the developing world despite the dramatic failures of such an approach as laid bare through the global financial crisis. The paper takes a historical approach to examine the trajectory of World Bank housing policy and is based on close scrutiny of a combination of quantitative and qualitative data. It concludes that an urgent need persists for a decoupling of finance from housing in international policy advocacy. [ABSTRACT FROM AUTHOR]

Social housing policy in Ireland has evolved over several decades into a significantly marketized tenure which relies on, supports and expands the private housing market. In this paper we argue that it does so in ways that contribute to the financialization of housing by embedding housing in volatile financial market cycles. Although the majority of the literature on financialization, both in Ireland and internationally, has tended to focus on home ownership and mortgage markets, we argue that the retrenchment of social housing and the shift towards subsidized private rental accommodation have been key features of the process of financialization and of Ireland's experience of boom and bust. The neoliberal turn in social housing policy, however, did not take shape in the form of either a coherent ideological project or a coherent suite of policy measures, but rather through the kind of piecemeal, ad hoc and typically 'pragmatic' processes identified by Kitchin et al. It is by examining the unfolding of these ad hoc processes that we identify both the neoliberalization of social housing policy and the interfaces between this process and that of financialization, particularly by highlighting how the former has enabled and facilitated the latter. [ABSTRACT FROM AUTHOR]

Urban interventions, such as state-led housing provision in India and South Africa, establish new legal landscapes for urban residents (formerly slum/informal dwellers), who become home owners, legal occupiers of spaces, ratespayers and visible citizens although not in ways that are necessarily contingent. These material-legal processes are also acutely gendered underscoring wider calls for a feminist approach to legal geographies. Informed by a comparative empirically driven study, this paper explores how in both contexts, urban interventions work to enhance gender equality through improving women's material shelter in the city, and introduce tenure security, often prioritising very poor women. Yet, their implementation is riddled with slippages as well as operating within a broader poverty–patriarchy nexus. This means that these legally framed benefits have occurred alongside complex and perverse outcomes including unemployment, gendered tensions and acute loss of privacy for some. Housing interventions produce uneven legal geographies, with persisting gendered inequalities and poverty distorting residents' abilities to benefit from material-legal interventions aimed at improving their lives. [ABSTRACT FROM AUTHOR]

A recent change in the geography of poverty in Britain has been reported: it appears to be becoming more evenly distributed in major cities, such that low-income individuals are less likely to be living in the highest poverty areas. Studying all local authority areas in England between 2005 and 2014, this paper finds that this phenomenon is strongly differentiated by age group and local authority type. Poverty amongst children and working age people is becoming more evenly distributed in almost all local authority types, with the largest changes occurring in the most urban areas. The change is strongly associated with the increasing proportion of low-income households living in private sector housing. Conversely, there is evidence of an increasing residential concentration of poverty at older ages. The paper also proposes a method for decomposing a change in rates between changes in the numerator and changes in the denominator. It concludes by discussing the implications of these findings for area effects, area-based initiatives and gentrification by displacement. [ABSTRACT FROM AUTHOR]

This paper contributes to research on short-term rentals (STRs), their suppliers and their impact on housing and the local community, focusing on Thessaloniki, a recessionary city off the tourist map until recently. Through the conduction of in-depth interviews with hosts and other key informants, and the analysis of quantitative data on Airbnb listings, I argue that: (1) far from enabling a sharing economy, Airbnb facilitates (re)investment in housing by different types of hosts. But investors outcompete amateur hosts and contribute to the professionalisation of STRs and the concentration of revenues. (2) the extraction of higher rents through STRs leads to the displacement of tenants and to gentrification in cities previously considered as ungentrifiable, driven by increased tourism and the short-term character of these rentals. However, the type and scale of investors involved, and the impact of gentrification are conditioned by contextual differences and the position of cities in the international competition to attract tourists. [ABSTRACT FROM AUTHOR]

Since 2001 investors have purchased rent-regulated housing in New York City with heightened expectation for financial performance, placing pressure on tenants and communities through increasing rents, harassment, eviction, and when financial targets are not met, physical deterioration of buildings. At the heart of this investment strategy is fictitious capital, the extension of credit based on assumptions about future events. This paper shows that beyond assessments about the “truth” or rationality of the expectations underlying fictitious capital, the management of value as a problem is at stake. When the expectations underlying fictitious capital are not realized, a network of actors engage in a set of legal–financial practices to manage the value of rent-regulated multifamily buildings, including banking regulation and its exception, mortgage securitization and special servicing, distressed debt markets, rent stabilization, and foreclosure law. The breakdown of the assumptions of fictitious capital reveals new challenges and opportunities for tenant activism and policy to intervene in preserving rent-regulated housing. The paper focuses on how this financialization of housing not only serves as a moment for the increasing role of financial actors and imperatives, but also how it drives tenant activism and policy to engage legal–financial practices to redefine the tenant–landlord relationship and to tie financial expectations more closely to the material reality of tenants and communities. [ABSTRACT FROM AUTHOR]

The right to the city represents a critique of the city as a place and an object of capitalist accumulation, in which priority is given to exchange value over use value. This critique references an ongoing and collective struggle for urban production to be radically democratic, as the expanded participation of city users would lead to appropriation, with social movements occupying a central role. This paper discusses the practices of urban social movements that cooperate with governmental institutions participating in and influencing the design and implementation of public policies. We focus on the possibilities of transformation towards the right to the city as well as the conflicts and contradictions that social movements face when partnering with the State. We carry out an in-depth investigation of two social movements involved in building housing units in Brazil as part of a federal government programme. By conceptually translating the right to the city into the economies of worth, we propose an original theoretical approach. Our study contributes to advance the understanding of the role of social movements that collaborate with governments without abandoning the goal of struggling for the right to the city. We add a pragmatic perspective to the radical conception of the right to the city by showing how different logics of action enable or hinder the possibility of the right to the city horizon. We propose that the prominence of the civic common world might transform operational processes mainly through self-management. [ABSTRACT FROM AUTHOR]

This paper analyses 'Build to Rent' (BTR), a new form of tenure in London's housing market. We examine the ways in which private and public sector actors have shaped the context of BTR's emergence, and developed a model for delivery in London. We argue they relied on and constructed narratives of negativity about the private rental sector, which were juxtaposed with their product to position BTR as a solution to part of London's housing crisis. Building on this, and leveraging an emerging but supportive institutional context, real estate professionals have adapted a US model to the UK. We argue that both the narrative-generating activities and the model development reveal tensions, which help theorise the ways new models of financing housing emerge. [ABSTRACT FROM AUTHOR]

Young adults in many contexts struggle on the housing market. Parental support has become increasingly important in allowing young adults to enter homeownership or to acquire secure housing in general. Consequently, the intergenerational transmission of inequalities has become more pronounced with regard to housing. Using longitudinal individual-level register data from Statistics Netherlands, this paper investigates how and to what extent parental wealth background is associated with socio-spatial inequalities and residential segregation in Amsterdam and Rotterdam. Results show that spatial segregation based on parental wealth is strong. Parental wealth background has notable spatial consequences, as it both deepens existing socio-spatial divides and establishes new ones. The influence of parental wealth background on socio-spatial divides is stronger in Amsterdam than in Rotterdam, suggesting that especially in the high demand Amsterdam housing context, young adults may need to draw on parental resources to outcompete other households and/or to acquire housing in expensive areas. [ABSTRACT FROM AUTHOR]

This paper analyzes how local urban development, and governance therein, are being shaped by the explosion of actors within the donor and investment community in African countries like Mozambique. More specifically, drawing on qualitative fieldwork in Maputo, existing data on aid and private sector flows to Mozambique, and a spatial analysis of new real estate developments between 2009 and 2017, I forward two novel arguments about the negative externcalities fostered by the growing density of the community of international development professionals and their foreign private-sector counterparts in the Mozambican capital of Maputo. First, I show that the increasing density of international actors in the capital city and their living needs, as well as how those needs are treated by the public sector, are deepening a housing, infrastructure, and amenities divide between the rentier and international classes in the city and the majority of low-income residents. Second, I contend that the very readiness of non-tax revenue sources from international agents is enabling a continued reliance on external funding, rather than own-source revenues, for major capital investments. This balance in favor of external financing further diminishes the already weak tax bargaining potential of the local population in making demands for urban development projects that directly serve them. In conclusion, I argue that the international development organizations portending an interest in the enhancement of urban equities and fiscal responsibility across cities like Maputo especially need to rethink their operational presence to better address the perverse externalities of their physical and socio-economic imprints on the urban landscapes in which they operate. [ABSTRACT FROM AUTHOR]

Repeated studies of urban regeneration have focused on the displacement of working class residents, but those who remain living in sites of urban change have received less attention. To attend to this gap, this paper focuses on the lives of long-standing residents in East Manchester, a site of urban regeneration, and examines their views of urban change. Ethnographic research reveals how the demolition and rebuilding of new houses has resulted in a deep sense of uncertainty. Drawing on anthropological theories of materiality, the analysis makes an original contribution to debates about urban regeneration, showing how social and material relations have been reconfigured and arguing that this in turn has created new meanings about the home. [ABSTRACT FROM AUTHOR]

The recent global financial crisis has seen investors turn away from real-estate bonds, given their role in distributing risk during the crisis. However, since 2009, a new type of real-estate bond market has grown in London, enabling social housing groups to issue bonds. This could be viewed as further evidence of the extension of financialization practices into new spaces, beyond those of traditional capital markets and associated intermediaries. In this paper, we examine how financialization has begun to permeate the third sector, reordering the priority of housing associations' values, displacing social value creation with the economic. We highlight how reduced state funding has led social housing providers to become more reliant on capital market intermediaries, and explore how locally orientated social housing associations have become embedded within wider financial networks. While policy makers have viewed financial markets as a panacea to fund social housing developments in an age of austerity, tensions have emerged, requiring localized social housing organizations to become more commercial in their activities, jeopardizing their ability to protect vulnerable communities through social value creation. [ABSTRACT FROM AUTHOR]

Glasgow is a city well known for bringing together a 'housing need' with a 'housing supply'. Post-accession Poles are the most recent population to fill the 'void' in Glasgow's 'unpopular' and therefore low-demand housing in areas of social deprivation. In this paper we will focus on the intersection of individual paths with institutional projects occurring at specific temporal and spatial locations: through examining the housing- seeking activities of migrants and the low-demand accommodation letting activities of, for example, the Glasgow Housing Association. In the paper we examine the meanings, processes, experiences, and perceived advantages (for migrant families and for housing associations) and also the disadvantages associated with post-accession Polish families taking up and being potentially 'steered' into tenancies in particular areas of Glasgow. [ABSTRACT FROM AUTHOR]

An introduction is presented in which the editor discusses various research papers within the issue on topics including challenges of western-centric convergence thesis, the right to housing and exclusivity of property in China.

The considerable literature on domestic energy consumption practices has tended to focus on either the (re)production and contestation of normative imaginaries, or the links between escalating standards and energy use. Far less has been written which links these related areas together. Accordingly, this paper is positioned at the intersection of debates on domestic consumption, energy use, and home cultures. Through a qualitative study of laptop use in the home, we illustrate how energy-intensive practices, such as 'always-on-ness', and changing computer ecologies and infrastructures, are intimately bound up with the reproduction of particular domestic imaginaries of family and home. A key insight in this paper is that a purely physiological conception of comfort would fail to explain fully why practices such as always-on-ness emerge, and thus we theorise comfort as an accomplishment comprised of inseparable temporal, bodily, spatial, and material elements. Ultimately, we argue here that comfort needs to be understood as a multivalent imaginary that is itself bound up in broader idealised notions of family and home in order to comprehend shifting practices, computing ecologies, and rising energy consumption. [ABSTRACT FROM AUTHOR]

As the housing bubble burst in overheated property markets around the world, South Africa's so-called 'affordable housing market' appeared to be bucking the trend. From 2010, affordable housing prices were rising and selling quickly, especially in Gauteng, Johannesburg's city-region, chronically short of actually affordable housing and with a growing black middle class. Touted as 'SA's best-kept investment secret', the affordable housing market offered a lifeline to the property industry and the potential to democratize segregated property markets. Yet, in practice, the tapping of South Africa's lower-income housing market by capital has been a limited one, narrowly catering to particular subjects and spaces. Drawing on heterodox approaches to 'actually existing markets' and qualitative fieldwork conducted in Johannesburg between 2012 and 2013, this paper traces how the boundaries of the affordable housing and mortgage submarket are produced and shift through the investments of multiple communities with their own theories of housing markets and different interests in 'making the market work'. Despite these investments and contestations, the submarket is narrowly territorialized within developer-driven housing largely in Gauteng for public-sector workers, to optimize the market within mortgage capital's frameworks of risk, return, race and space. The South African mortgaged affordable housing submarket is not so much in need of market information or constitutive of a new frontier of global finance, as a territorial fix for domestic capital vis-à-vis development imperatives. To investigate struggles over this submarket, I draw together socio-institutional approaches to markets with critical political economy of housing markets and put them into conversation with critical development studies scholarship on markets. This combination allows us to make space for multiple projects of 'improvement' and profit in our analyses of market-making, as well as how these are shaped by, and shape, space and conjuncture. I seek to contribute to a growing literature on the geographies of markets from a Global South context where housing is framed as both a market good and constitutional right by examining a case of apparent 'market failure'. [ABSTRACT FROM AUTHOR]

The 2011 Affordable Homes Programme introduced dramatic reductions in the level of government grant for new-build construction by housing associations, with an expectation that associations' rents would rise towards market rates to compensate. Through this paper, I explore London-based associations' use of cross-subsidy from commercial sale and rental operations to ameliorate the push towards higher rents for social housing. I characterize the spatially variegated response to the Affordable Homes Programme as 'asymmetric marketization'. The case illustrates the value of bridging between economic geography literatures that acknowledge spatial variation in state–market constellations but offers less developed insights on modes of marketization, and political science literature on the regulatory state that offers a useful framework for disaggregating between modes of marketization but which has overlooked the issue of spatial variation. The significance of this asymmetric marketization is heightened by ongoing concerns over the sustainability of London-based housing associations' commercial activities, and by the possible extension of commercial-to-social cross-subsidization across other national housing systems. [ABSTRACT FROM AUTHOR]

Research in urban studies on lesbian, gay, bisexual and trans (LGBT+) people and their housing choices has focused on economic choices and the role of exclusion, or conversely higher household disposable income, in residential location. Evidence on lived experiences has focused on residence in so-called 'gaybourhoods' with high concentrations of non-heterosexual households, or experiences within the home. Contrasting to this scholarship, in this paper we focus on LGBT+ people who live in socially rented housing in deprived neighbourhoods that are geographically, socially and economically marginal. Our evidence shows how complex experiences of exclusion for LGBT+ people, not always directly connected to their sexual or gender identity, led to individuals living in these neighbourhoods. Using the theoretical approach of housing pathways, we further suggest that these neighbourhoods offer limited affordances for wellbeing for LGBT+ individuals that need to be recognised by housing and other service providers. We also argue that mainstream housing and urban studies needs to use sexual and gender identity as a category of analysis in research so we can better understand the lived experiences of non-heterosexual individuals and households. [ABSTRACT FROM AUTHOR]

This paper discusses the impact of housing affordability on the spatial distribution of productivity and wages. The key theoretical contribution is to phrase the problem as an issue of the composition (rather than the level) of housing demand and link it to heterogeneous preferences and characteristics of households. Using a simple simulation methodology, the study estimates levels of amenity values and wages that would make current house prices as affordable as they were in 1995 in all English local authority districts. Although average wages would be unlikely to increase if housing was more affordable, productivity across England would probably be higher as the spatial distribution of economic activity would change. The key conclusions are that (1) unaffordable housing has significant economic implications; and (2) policy aimed at improving housing affordability should consider targeting housing demand as well as supply. [ABSTRACT FROM AUTHOR]

This paper seeks to predict the impact of future housing supply on the affordability of residential space in the United Kingdom, using quantitative model-based simulation methods. Our spatially disaggregated analysis focuses on the greater South East region, approximately within 1.5 hours commuting time from Central London. A dynamic spatial panel model is applied to account for observed temporal variations in property prices and housing affordability across districts. The dynamic structure of this model allows us to assess the scale and extent of knock-on effects of local supply shocks in one district on other districts in the region. These complex spatial effects have been largely ignored in local or regional housing market forecasting models to date. Applying this model, we are able to demonstrate that local house prices and affordability are not only determined by the underlying supply and demand conditions in the market in question, but also depend crucially on conditions in neighbouring housing markets whose properties can be considered close substitutes within a larger regional housing market. We also show that increasing housing supply in the most critical areas has little impact on (both local and regional) affordability, even if wages do not change in response to an increase in employment. [ABSTRACT FROM AUTHOR]

The commuting burdens of disadvantaged groups have recently become a renewed topic of concern with social inequities and just city. It is widely believed that social restrictions and individual’s self-etermined actions become more important determinants of low-income workers’ commuting costs than spatial constraints. However, it is doubtable to recognise the belief as a ‘universal’ truth since the evidences for this are still fragmented and particularly are dominated by cases from the Western-developed countries. This paper reports on an initial investigation into low-income workers’ commuting burden and its determinants in a rapidly developing city, looking at the case of Beijing. Spatial constraints caused by uncontrolled urban sprawl, an insufficiency of affordable housing and lower levels of public transport services are still major factors leading to additional commuting time for low-income workers, in particular, for those who travel by public transit. Individuals’ preferences for housing have effects on low-income workers’ commuting times. For the car users, the effects are greater than that spatial constraints have. However, a preference for greater proximity to the workplace rather than a better quality living environment in a community has a significant influence on low-income workers’ commuting times. It suggests the basic need for housing and jobs explains the greater commuting burden on low-income workers. Thus, today’s commuting burden in China for low-income workers could be generally understood by social–spatial structure rather than social–cultural forces. But it seems that the impacts of individual’s self-determined actions on commuting burden will increase in the context of individualisation of the society in China. [ABSTRACT FROM AUTHOR]

This paper examines aspects of space consumption in two very different housing types: the communist mid-rise estates and postcommunist suburban selfbuilt housing. Examining residents' perceptions in order to categorise space as overcrowded or underoccupied, the paper engages critically with the issue of the inefficient distribution of Romanian housing: that is, a considerable mismatch between dwelling and household size. The analysis documents the continued salience of overcrowding in the communist estates and, conversely, self-builders' satisfaction with the generous size of their new homes. Market forces permit various modes of residential mobility, but their likely outcome is growing housing inequality while any redistributive impact will remain insignificant unless policy incentives could facilitate conversion of underoccupied space into (social) renting housing. However, only a sustained delivery of larger and affordable new dwellings could alleviate overcrowding. [ABSTRACT FROM AUTHOR]

As urban centres of agglomeration expand and compete for investment, new demands may arise for additional housing, infrastructure, and services. Failure to meet these demands imposes costs on firms and workers, stifles expansion, and potentially compromises the long-run economic competitiveness of the growth area. Drawing on evidence from Germany (Munich), Sweden (Stockholm), and the UK (Cambridge) this paper examines the organisational and political challenges of growth facilitation in the context of post-Keynesian political and economic restructuring. Particular emphasis is placed on tensions arising from changes in the form and function of European state social regulation. These tensions are not simply a matter of neoliberal regulatory deficit but reflect broader societal cleavages in relation to the uneven spatial impact of local economic growth. Deploying the concept of territorial structures of growth facilitation provides a conceptual framework for taking forward research on the relationship between state spatial regulation, state restructuring, and the competitiveness of city-regions. [ABSTRACT FROM AUTHOR]

Drawing on the Bourdieusian concept of ‘field’ and the theorization of ‘intersectionality’, this paper proposes a concept ‘intersectional field’ to disentangle the complex interrelations between housing and education in China, where they mutually constitute and co-produce yet trouble and counteract with each other, whereby exerting simultaneous exclusion in cultural and economic (re)production. Drawing on policy documents and 38 in-depth interviews with various stakeholders in China, we first delineate the genesis and evolvement of this intersectional field. We then demonstrate how middle-class parents rationalize and strategize their heavy investment in cultural and economic reproduction against the most recent policies that seemingly aim to de-intersect/decouple these two fields. We show that the intersectional field of housing and education in China emerges from state-imposed rules while being increasingly self-reinforced. It was also temporarily counteracted and suspended responding to the escalated crises of housing unaffordability and over-competition over quality schooling opportunities, through policies like franchising key schools from the city centre to the suburb and random allotting enrolment. These changes in the ‘rules of the game’ indeed bring uncertainties to the intersectional field. However, while discontent to this intersectional field abound, these actions are self-constrained by the internal logic of the intersectional field and thus unable to bring fundamental changes. Those with limited socio-economic capacities remain extremely disadvantageous in both fields. The policy intervention turns out to be merely a spatial reordering that relocates and expands the fierce competition from the city centre to the suburbs while repositioning the suburbs to be the focal point for strategic investment in the intersectional field. [ABSTRACT FROM AUTHOR]

International scholarship on student geographies and urban change continues to advance knowledge of the intense commodification of student lifestyles and student housing. The main aim of this paper is to consider some of the hitherto under-researched wider knock-on effects of more commodified student housing markets. Here we present findings from the first-ever empirical study of de-studentification. Using the case study of Loughborough, we demonstrate how de-studentification is a process of change that has been stimulated by the increased supply of purpose-built student accommodation. We show that de-studentification leads to the depopulation and decline of some classical studentified neighbourhoods. Moreover, these urban transformations have several significant implications for pre-existing conceptualisations of urban change and student geographies. Notably, the impacts of de-studentification pose important questions for the conceptual boundaries of studentification – a prerequisite of de-studentification – and although, to date, dominant conceptualisations of studentification are wedded to upgrading-led representations of urban gentrification, it is shown that de-studentification, conversely, leads to physical downgrading and emptying of neighbourhoods in distinct phases. We therefore argue for a process-led definition of de-studentification, to illustrate how studentified neighbourhoods are gradually ‘emptied’ of student populations and student housing. More broadly, it is asserted that new student geographies are being created by the deepening neoliberalisation and commodification of higher education, which, in turn, will have unintentional consequences for wider social, cultural and economic relations in university towns and cities, such as emergent community cohesion and changing senses of place. [ABSTRACT FROM AUTHOR]

This paper provides insight into the way in which state-led gentrification unfolded in three neighbourhoods in Amsterdam and The Hague. Although Dutch gentrification has been comparatively mild, state actors increasingly adopted gentrification as a policy tool. However, the Netherlands provides a particular context for state-led gentrification. First, the national government plays a key role, as regeneration policies increasingly promoted gentrification as an instrument for differentiating the housing stock and as necessary to prevent social problems and decline. These goals are adopted by local governments in neighbourhood regeneration. Second, housing associations are important stimulators of gentrification. They are hybrid organizations: although their task is providing affordable housing, they are also market-oriented actors who generate income from market activities. However, power inequalities between actors, different objectives and priorities of actors and different local contexts resulted in processes of negotiation and consequently, diverse regeneration strategies. Although interventions are moving into a neoliberal direction, governments and housing associations still form a strong buffer between market interventions and neighbourhood development. [ABSTRACT FROM AUTHOR]

Although specified in the South African Bill of Rights, for the majority of South African citizens the right to access housing translates in practice to the experience of waiting. In this paper we reflect on the micropolitics of waiting, practices of quiet encroachment, exploring how and where citizens wait and make do, and their encounters with the state in these processes. We argue that waiting for homes shapes a politics of finding shelter in the meanwhile partially visible yet precarious, the grey spaces of informality and illegality that constitute South African cities. At the same time, waiting generates a politics of encounter between citizen and state, practices immersed in shifting policy approaches and techniques, the contingent and often-opaque practices of governance. In sum, the politics of waiting for housing in South Africa proves paradoxical: citizens are marked as legitimate wards of the state. Yet, to live in the meanwhile and in the long term requires subversion, an agency that is sometimes visible in mobilisation and protest, and at other times out of sight, simultaneously contentious and legitimate. [ABSTRACT FROM AUTHOR]

The capture of value from public land has emerged as a central concern in recent scholarship on urban financialization. Drawing on the case of local authority housing companies in London, this paper explores why and how the local state is engaging in an increasingly speculative mode of land development, and with what effects. By conceptualizing state-led value capture as a political technology of risk management that operates across scales, I develop two key arguments. First, I argue that struggles over the allocation of the risks and costs of public debt have shaped local authorities’ speculative engagement with land. Unlike the case of US municipalities that are structurally reliant on private bond markets, I show how local authorities’ growth politics have been underwritten by the central state and accelerated by budgetary austerity. Second, I argue that this translocation of risk at the scale of the local gives rise to a form of state power organized around the allocation, production, and constant monitoring of financial and political risks. The politics of risk that underpin municipal experiments in state-led value capture combine an embrace of uncertainty and value expansion, with the principles of austerity budgeting, downscaling, and retrenchment. Ultimately, the effects of this form of state intervention are a heightening of uneven development, an exacerbation of local fiscal crisis, and a weakening of democratic governance. [ABSTRACT FROM AUTHOR]

This research attends to how urban tenants bring matong (toilets in the form of urine buckets)—which are a material, semiotic, and marketable piece of infrastructure—into the debates over the remaking of a heritage district in Hongkou, Shanghai. Challenges abound for the site, which is occupied by prewar buildings where Jewish refugees found shelter during the war and more than 10 thousand Chinese tenants moved in after the Jews left. Until 2020, the dilapidated buildings accommodated an aging population of tenants who wish to stay relevant to the redevelopment vision of Shanghai and a variety of community business, including urban waste recycling. To find a crack in the state-led, neoliberal system, the tenants managed to exercise infrapolitics—an everyday form of resistance—over an urban infrastructure that is of particular significance to their bio-well-being and beyond. We analyze a set of spatial politics on sanatory infrastructure in Hongkou to understand how the tenants are desperately capitalizing on their disadvantages and reassembling memories, waste, and housing inequality into something more promising from below. The theorization of infra-bio-urbanism upon toilets sheds light on the accumulating anxiety upon housing inequality and infrastructural mobility in globalizing cities in China and beyond. [ABSTRACT FROM AUTHOR]

The choice of residential locations is affected by both dwelling and location characteristics. Preferences for these characteristics vary with each household's requirements, traditionally attributed to the household's lifecycle stage. With a crosssectional study that identifies lifecycle stages according to household structure, this paper offers an investigation of residential location and shows that not all components of preference heterogeneity can be accounted for by household structure. Latent class choice models examine household segments according to lifestyle preferences. The results reveal the degree of association between identified household lifecycle segments and estimated lifestyle latent classes. The composition of the latent structure differs for each lifecycle segment; income and the age of the head of household strongly affect housing preferences, but do not lead to the same latent class structure for households at different lifecycle stages. [ABSTRACT FROM AUTHOR]

Institutional bias is an important topic in social justice and the presence of institutional bias is widely recognized in China's urban housing sector. This paper proposes a new framework for measuring and assessing institutional bias in China's urban housing system based on structural equation modeling and the Pratt index of relative importance for linear regression. The proposed framework analyzes the structural pathways through which nonmarket institutional forces affect housing, and provides quantitative measures to evaluate both the direct and the indirect effects of biased institutions on housing outcomes. A case study of Guangzhou is presented to demonstrate the proposed ideas and methods using first-hand household survey data collected in 2009. The results of the case study show the dominance of institutional effects over market effects on housing outcomes through direct and indirect pathways. The results also show that, although institutional forces affect most subjective and objective measures of housing outcomes, they induce the largest effects on homeownership attainment and physical housing conditions. This suggests that, at this stage, property ownership and material housing well-being are two potential central areas of China's housing justice. [ABSTRACT FROM AUTHOR]

In this paper we provide an account of the property-led boom and bust which has brought Ireland to the point of bankruptcy. Our account details the pivotal role which neoliberal policy played in guiding the course of the country's recent history, but also heightens awareness of the how the Irish case might, in turn, instruct and illuminate mappings and explanations of neoliberalism's concrete histories and geographies. To this end, we begin by scrutinising the terms and conditions under which the Irish state might usefully be regarded as neoliberal. Attention is then given to uncovering the causes of the Irish property bubble, the housing oversupply it created, and the proposed solution to this oversupply. In the conclusion we draw attention to the contributions which our case study might make to the wider literature of critical human geographies of neoliberalism, forwarding three concepts which emerge from the Irish story which may have wider resonance, and might constitute a useful fleshing out of theoretical framings of concrete and particular neoliberalisms: path amplification, neoliberalism's topologies and topographies, and accumulation by repossession. [ABSTRACT FROM AUTHOR]

The paper examines the nature of the housing predicaments faced by China's urban poor since the advent of pro-ownership housing marketization in the 1990s. It is argued that housing deprivation in today's urban China is a complex problem which is difficult to disentangle based solely on the material outcomes of housing distribution and housing inequalities. Therefore, an integrative framework is proposed to examine the issue from the perspective of structure-agency interaction. Statistical methods are employed to identify the concrete market and nonmarket factors which constrain the housing decisions of Nanjing's poor families, based on census and household-survey data. Qualitative interviews are then utilized to help reconstruct and interpret different storylines of homeownership transition under the identified constraints. Findings suggest that the ownership-based housing model has been promoted among the poor in exploitative ways, which has resulted in profound deprivation-for both poor owners and nonowners. Alternative, nonownership housing options are urgently needed to address the problem. [ABSTRACT FROM AUTHOR]

This paper aims to address the oft-mentioned dearth of research on the suburbs by examining processes of sociospatial segregation and middle-class disaffiliation in London's eastern suburban periphery. By drawing upon aspects of Bourdieu's theoretical framework, the paper shows how the home-owning, middle-class, largely white residents of the 'Woodlands' private housing estate attempted to shore up their threatened sense of exclusivity in relation to the nearby deprived 'Eastside' suburb. The empirical material is drawn from survey and interview research on incomers to Woodlands. For its affluent incoming residents, Woodlands' dominant place image was that of an 'oasis' within Eastside, an area dominated by a large council-built housing estate. Although the Woodlands incomers were physically resident in Eastside, they symbolically and practically disengaged from 'local' places, notably shops, pubs, and schools, and their lower class and not-quite-white populations. The author argues that the Woodlands incomers adhered to a spatially selective version of what Savage et al. refer to as 'elective belonging'. Such selective belonging denotes a spatially uneven attachment rooted in residents' schizophrenic relationship to the suburban area, embracing the Woodlands oasis whilst abjuring the 'other Eastside'. [ABSTRACT FROM AUTHOR]

Now a recognised phenomenon in many British cities, studentification is the process by which specific neighbourhoods become dominated by student residential occupation. Outlining the causes and consequences of this process, this paper suggests that studentification raises important questions about community cohesiveness and that intervention may be required by local authorities if social and cultural conflicts are to be avoided. Detailing the social impacts of studentification in Loughborough, a market town in the English East Midlands, the paper accordingly considers recent housing policies designed to prevent the formation of exclusive 'student ghettos'. The paper concludes by suggesting that the type of `threshold analysis' utilised in Loughborough may well spread students more thinly across a city, but that the relationship between students and the wider community requires other forms of regulation if town-university tensions are to be effectively managed. Throughout, comparison is made between the Loughborough and other UK university towns where the challenges and opportunities associated with studentification have been differently addressed. [ABSTRACT FROM AUTHOR]

Much of the analysis to date on the topic of excess commuting and jobs - housing balance deals with total commuting flow, undifferentiated with respect to worker and job characteristics. In this paper we explicitly address the disaggregation issue in terms of job and worker heterogeneity and show how to incorporate such details into the analysis of excess commuting. The objectives of this paper are (I) to develop a trip-distribution model disaggregating journey-to-work data according to type of occupation in order to estimate actual commutes; (2) to develop a disaggregated version of a linear program to measure theoretical minimum and maximum commutes; and, (3) to verify variations in excess commuting and jobs-housing balance according to type of occupation. Results of actual trip-length distributions for each occupation vary from 3.72 to 5 miles for Boise, Idaho, and from 4.27 to 7.78 miles for Wichita, Kansas. Minimum commutes vary from 0.95 to 3.58 miles and from 1.5 to 3.79 miles for Boise and Wichita, respectively. These results imply nonuniform levels of excess commuting and jobs/workers ratios. The proposed models are expected to have a wide range of uses in measurement and assessment of empirical patterns of commuting. The scope of the disaggregation can be extended to other targets, such as different types of industry, household structure, income level, ethnic background, education level, transportation mode, and gender. Further dimensions of disaggregation can address spatial interactions of different socioeconomic groups in urban areas, and, more generally, contribute to exploring urban sprawl according to job characteristics and industries. [ABSTRACT FROM AUTHOR]

This paper studies the interaction between commuting, job mobility, and housing mobility. Many conventional models assume that the employment location has priority over the residential location and that the latter is adapted to the former. This implies that commutes which start with a job change will often be short lived because of a change in residential location that soon follows. It is also often supposed that the change in residential location is made with the intention to avoid long commutes. In this paper we test the empirical validity of these hypotheses. Our data are a sample of Dutch workers who report changes on the housing and labor market between 1990 and 1998. It appears from these data that both job mobility and housing mobility are often followed by repeat mobility on the same market, but also on the other market. Job mobility indeed triggers residential mobility, but the effect of residential mobility on job changes is of comparable magnitude. Moreover, both types of mobility lead to substantial repeat mobility. We specify duration models that focus on the time during which employment-housing arrangements (hence, commutes) remain unchanged. Estimation results for these models confirm that commutes which start with housing mobility and those which start with job mobility have similar characteristics with respect to induced future mobility. We are unable to find evidence supporting the hypothesis that long commutes resulting from a job change induce additional residential mobility. Another result of the analysis is that workers belonging to dual-earner households are more mobile on both markets than other workers. [ABSTRACT FROM AUTHOR]

Informal settlements have been crucial sites of spatial dispossession and neoliberal urbanization with the displacement of the urban poor from profitable urban areas. This study examines the gendered implications of dispossession and changing dimensions of women's poverty as a result of slum/squatter redevelopment projects. Based on the research of the Kadifekale Urban Transformation Project in Turkey that resettled residents of a highly concentrated Kurdish migrant squatter settlement into a new mass housing estate, the study highlights the impacts of profit-driven urban development projects on women's access to affordable housing, support networks, care work, and employment opportunities. Kurdish women's experiences of displacement and resettlement illustrate in particular the intersectional aspects of gendered dispossession and asset erosion with their exclusion from affordable housing options, dispersal of their communities, and separation from their ethnic employment niches. Drawing upon dispossession and feminist development literature, the study sheds light upon the gendered experiences of displacement, changing livelihood opportunities, gendered access and control over resources, and strategies of resistance that result from slum redevelopment projects. [ABSTRACT FROM AUTHOR]

The policy of density agreements, allowing extra density for condominium developers in exchange for affordable housing units, is seen as an example of the neoliberalization of urban governance in North American and European cities. The consensus of scholarship on urban neoliberalism has suggested this practice is indicative of the rise of the entrepreneurial, market-orientated local state. Through a study of urban development in Vancouver, British Columbia. I illustrate how exchanging density for affordable housing also operates on the basis of gift giving. In doing so I integrate Karl Polanyi's framework of substantivism, which highlights various forms of economic exchange including markets, redistribution, and reciprocity, into research on urban governance. Applying the principles of substantivism to the case of Vancouver, I argue that reciprocity obfuscates the negative effects of the privatization of affordable housing provision by making social welfare contingent on increasing profits for developers, concealing the role of political power in land-use decisions, and gentrifying low-income neighbourhoods. These findings hold implications for the study of urban politics, the neoliberalization of affordable housing, and urban-economic research more generally. [ABSTRACT FROM AUTHOR]

The high cost-of-living in "superstar" US metropolitan areas has become an area of increasing scholarly and policy concern. One question relates to whether low socioeconomic status (SES) and other historically disadvantaged residents are getting pushed out of these city-regions. To unpack what is occurring with respect to migration out of large expensive metros, I examine who is moving out of these areas in the US and where they are going. I use regression, coarsened exact matching, and latent class analysis to understand who is staying within large expensive US metros and who moves out of them, as well as what revealed preferences underlie these moves. I find evidence that lower SES households are slightly more likely to leave superstar US city-regions, though Black, Latinx, and immigrant households are less likely to leave than White and US-born households. Rather than leaving, many low SES households may instead continue to live in these areas while enduring increasingly crowded living arrangements and/or long commutes. The results also highlight substantial heterogeneity in where households go to once they move, suggesting migration out of these urban areas may be more complex than simply the push of high cost-of-living. [ABSTRACT FROM AUTHOR]