Author
Name: Adriana Mihaela Soaita Organisation: University of Bucharest (Romania) and University of Glasgow (Scotland) Position: Research Fellow |
The Diverse Economies of Housing
This paper questions the uncritical transfer of neoliberal concepts, such as financialisation and overreliance on conceptual dichotomies like formal/informal, as the lenses through which to understand practices of housing provision and consumption in the post-communist space. To this end, it introduces the newly-established ‘diverse economies’ framework, which has been used elsewhere to reveal existing and possible alternatives to advanced capitalism. Applied to the Romanian case, the lens of diverse economic practices helps shed light on the ways in which the current housing system was historically constituted, with implications for how housing consumption is now stratified across some related housing typologies. The paper invites debate on the theoretical usefulness of the diverse economies framework to study housing phenomena, particularly its implications for understanding patterns of inequality and poverty, its potential to devise useful analytical categories, and its effect of directing attention to acts of resistance to neoliberal capitalism.
Homebuying: a Critical Perspective on Financial Costs and Gains
In Britain, the shift from the ideology of homeownership into one of homeownership-based welfare has been sustained by homebuyers being regarded as investors. Homeowners are expected to create a synergy between the owned house seen as a space of shelter, place of home and increasingly, an investment vehicle and an object of debt. Drawing on 80 interviews with owner-occupiers and national data on house prices and mortgages, we examine the way in which the meanings of home meanings are negotiated through the subjective calculation of the financial costs and gains of homebuying. We explore homebuyers’ debt amnesia, their miscalculation of gains and their disregard of inflation. However homebuyers’ financially unsophisticated understanding of the asset-home arises less from book-keeping complexities or difficulties in pricing the emotional domain of the home, but rather by them instinctively considering the alternative cost of a rented space of shelter. From this financial perspective and given affordability, homebuying illustrates a misleading ideological notion of choice.
