Balancing Accumulation and Affordability: How Dutch Housing Politics Moved from Private-Rental Liberalization to Regulation

Abstract

This paper answers the question why the Dutch state has gone from vigorously stimulating private-rental growth and liberalization to actively restricting the tenure. Answering this question is important in understanding an emergent wave of more restrictive, or even “post-neoliberal” housing policies across countries. This paper presents an analysis of the changing private-rental politics in the period following the Great Financial Crisis, combined with a quantitative study of renters’ housing outcomes. The central argument is that policies promoting private-rental growth and liberalization and the subsequent turn restrictive policies are both outcomes of the state seeking to balance the property-led accumulation with middle-class residential demands. Supportive policies were the result of a presumed alignment of the interests of capital, the state and the middle classes, but ongoing liberalization has undermined middle-class housing affordability–revealing a key tension between capital and middle-class interests. This tension triggered new, more restrictive policies.