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Category: Housing Fanance and Strategy

  • “The Impact of Financialisation on Housing Affordability and Inequality: Examining the Levelling Up Strategy in the UK” “Reflection on Learning in the Housing Sector: Challenging Perceptions and Developing Financial and Quantitative Skills”

    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