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Home ownership was a significant element of social change in the post-war, mature, capitalist economies such as the United Kingdom, United States and Japan. This growth of individual home ownership occurred, however, within a particular demographic, economic, social and political context. This distinctive set of conditions include the atomized, nuclear family; suburbanization; high growth; the conventional mortgage market and a young, working population. These conditions have changed and coalesce in the constitution of what we refer to as ‘late home ownership’. The paper conceives of contrasts between ‘real estate families’ or ‘accumulating families’ which maintain or further accumulate valuable multiple property assets over generations; ‘dissipating families’ which are forced to deploy and diminish their property assets accumulated in the exceptional era; and propertyless ‘perpetual renter families’. It is argued that these emergent divisions are pivotal in understanding new forms of social re-stratification in which the patterns of ownership of residential property, the income flows from residential property investment, a changed demographics and intergenerational dynamics are key drivers. [ABSTRACT FROM AUTHOR]

Japan's post-war housing system has been dominated by family-owned housing. However, the centrality of family home ownership has declined since the 1990s. Housing careers and family formation patterns have diverged leading to the re-organisation of boundaries separating owning and renting. Using Japan as a focus, this paper explores the role of individualisation and familisation in transforming homeowner societies. On one hand, the individualisation of younger generations in Japan has encouraged a notable increase in one-person households living in private rented housing. On the other hand, a growing number of young households have purchased houses with assistance from their parents. This has been interpreted as an intergenerational familisation of access to home ownership. There is also an increasing number of unmarried adults living in their parents’ homes, which reflects the individualisation of younger cohorts and simultaneously the familisation of adult children's early housing careers. Moreover, it has recently been pointed out that Japan's system of extended family households and the related practice of transferring family properties across generations, has not declined. This paper argues that individualisation and familisation are combining to reorganise the ‘edges’ of home ownership, by helping determine who can enter owner-occupied housing sectors, and who is excluded. [ABSTRACT FROM PUBLISHER]