Research@StAndrews
 
The University of St Andrews

Research@StAndrews:FullText >
University of St Andrews Research >
University of St Andrews Research >
University of St Andrews Research >

Please use this identifier to cite or link to this item: http://hdl.handle.net/10023/3277
This item has been viewed 71 times in the last year. View Statistics

Files in This Item:

File Description SizeFormat
Lowe_et_al_2011_SP_S_SI.pdf104.26 kBAdobe PDFView/Open
Title: From housing wealth to mortgage debt : the emergence of Britain's asset-shaped welfare state
Authors: Lowe, Stuart
Searle, Beverley Ann
Smith, Susan J
Keywords: Housing
Social policy
Asset-based welfare
Equity withdrawal
HN Social history and conditions. Social problems. Social reform
Issue Date: Jan-2012
Citation: Lowe , S , Searle , B A & Smith , S J 2012 , ' From housing wealth to mortgage debt : the emergence of Britain's asset-shaped welfare state ' Social Policy and Society , vol 11 , no. 1 , pp. 105-116 .
Abstract: Housing has been unjustifiably neglected in comparative welfare state research. The banking crisis of 2007–08, however, revealed how important housing, especially home ownership and the institutional structures of the mortgage market, has become to welfare state change. Securitisation of mortgages created a new circuit of global capital, while national mortgage markets became the conduit through which home owners were connected to this wave of globally sourced capital. In the UK, equity stored in owner-occupied property became much more fungible because of the very open/liberal mortgage market. As a result home owners began to ‘bank’ on their homes using it not only for consumption but increasingly as a financial safety net, a cushion against adversity and a means for securing access to privately supplied services and supporting their family’s welfare needs across the life-course. This welfare state change – a move towards assetbased welfare – was historically and today remains underpinned by the emergence of the UK as a home-owning society.
Version: Publisher PDF
Status: Peer reviewed
URI: http://hdl.handle.net/10023/3277
DOI: http://dx.doi.org/10.1017/S1474746411000455
ISSN: 1474-7464
Type: Journal article
Rights: Copyright (c) Cambridge University Press 2011
Appears in Collections:Geography & Sustainable Development Research
University of St Andrews Research



This item is protected by original copyright

Items in DSpace are protected by copyright, with all rights reserved, unless otherwise indicated.

 

DSpace Software Copyright © 2002-2012  Duraspace - Feedback
For help contact: Digital-Repository@st-andrews.ac.uk | Copyright for this page belongs to St Andrews University Library | Terms and Conditions (Cookies)