The Social Value of Housing in Straitened Times: The View from England

Abstract

This paper provides a commentary on the contemporary housing crisis in England and links it to broader questions of role of housing in capitalist economies and societies. It starts with the assumptions that housing and community development issues are linked to the wider housing market and that the housing crisis is not new but has long-run antecedents. The paper begins by reviewing the contemporary terrain of housing markets and policies in the UK. It then discusses several aspects of ‘crisis’: market volatility, rates of new supply, affordability, state welfare subsidies and socio-spatial inequalities. Policy responses to these are examined through a discussion of efforts to expand the role of the private rented sector, sell-off ‘expensive’ public housing and curtail market renewal investments. The paper concludes that current conceptualisations of the value of housing are often partial and insufficiently integrative and that policies must explicitly recognise housing as a social and economic asset.