Abstract
This chapter explains and decodes the key features and operations of the housing system, including the social and economic significance of housing, processes of housing production, tenure, the drivers of housing demand and supply, housing market cycles, submarkets and measures of market responsiveness and failure. The objective is to provide a working introduction to housing systems and the operation of the housing market for those unfamiliar with housing policy or economics (particularly planners and urban policy makers) and for those researchers seeking to understand their own housing systems in international context. This chapter also introduces key concepts in comparative housing research, including the characterisation of welfare regimes and debates about whether housing systems will begin to converge in the face of shared policy challenges arising in the wider context of globalisation (poverty and inequality, demographic change, environmental and climate pressures and the quality of urban life).
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Notes
- 1.
Comparing Sweden and Norway, over the period 1996–2011, from Wilcox and Perry (2014) UK Housing Review, Table 8, derived from OECD Factbook 2009: Economic, Environmental and Social Statistics and from National Accounts, OECD StatExtracts.
- 2.
The Gini coefficient essentially measures half the difference between every individual income and the average, thus measuring the share of total income which would have to be redistributed to achieve complete equality.
- 3.
China and Hong Kong are omitted, because they are not within the key statistical sources used based on OECD countries, and because Hong Kong is a special case of a city-state within a state.
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Gurran, N., Bramley, G. (2017). The Housing System. In: Urban Planning and the Housing Market. Palgrave Macmillan, London. https://doi.org/10.1057/978-1-137-46403-3_3
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