Evolving Market Infrastructures: The Case of Assetization in UK Social Housing

IF 7.2 1区经济学 Q1 ECONOMICS

Economic Geography Pub Date : 2023-08-24 DOI:10.1080/00130095.2023.2245097

T. Wainwright, G. Manville

{"title":"Evolving Market Infrastructures: The Case of Assetization in UK Social Housing","authors":"T. Wainwright, G. Manville","doi":"10.1080/00130095.2023.2245097","DOIUrl":null,"url":null,"abstract":"Researchers with an interest in real estate financialization have recently turned their attention to the rental sector (Wijburg et al. 2018; Byrne 2020). While earlier work highlighted the growth of buy-to-let (BTL) markets in the UK and Netherlands (French and Leyshon 2009; Aalbers et al. 2017), for example, scholars have begun to focus on the growth of institutional landlords (Revington and August 2020), the build-to-rent (BTR) market (Brill and Durrant 2020; Nethercote 2020) and REITs (Waldron 2018), as intermediaries deepen the reach of financial capital into residential markets. The carefully curated ‘departure’ of the state from housing provision (Belotti 2022) has seen local authorities either transfer or sell their housing stock, with private landlords standing-by to capture the resultant rent extraction opportunities (Wijburg and Aalbers 2017). Studies have emphasised the light regulation and subsequent poor management by private landlords (Brill and Durrant 2021), but in contrast, housing associations (HAs), are more strictly regulated and have a social mission as part of their charitable foundations, which historically underpins attempts to prioritise tenants (Byrne and Norris 2019; Cooper 2022).","PeriodicalId":48225,"journal":{"name":"Economic Geography","volume":"1 1","pages":""},"PeriodicalIF":7.2000,"publicationDate":"2023-08-24","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic Geography","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1080/00130095.2023.2245097","RegionNum":1,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q1","JCRName":"ECONOMICS","Score":null,"Total":0}

引用次数: 0

Abstract

Researchers with an interest in real estate financialization have recently turned their attention to the rental sector (Wijburg et al. 2018; Byrne 2020). While earlier work highlighted the growth of buy-to-let (BTL) markets in the UK and Netherlands (French and Leyshon 2009; Aalbers et al. 2017), for example, scholars have begun to focus on the growth of institutional landlords (Revington and August 2020), the build-to-rent (BTR) market (Brill and Durrant 2020; Nethercote 2020) and REITs (Waldron 2018), as intermediaries deepen the reach of financial capital into residential markets. The carefully curated ‘departure’ of the state from housing provision (Belotti 2022) has seen local authorities either transfer or sell their housing stock, with private landlords standing-by to capture the resultant rent extraction opportunities (Wijburg and Aalbers 2017). Studies have emphasised the light regulation and subsequent poor management by private landlords (Brill and Durrant 2021), but in contrast, housing associations (HAs), are more strictly regulated and have a social mission as part of their charitable foundations, which historically underpins attempts to prioritise tenants (Byrne and Norris 2019; Cooper 2022).

查看原文本刊更多论文

不断演变的市场基础设施：英国社会住房资产化案例

对房地产金融化感兴趣的研究人员最近将注意力转向了租赁行业（Wijburg等人，2018；Byrne 2020）。虽然早期的工作强调了英国和荷兰买来租去（BTL）市场的增长（French和Leyshon，2009年；Aalbers等人，2017），例如，学者们已经开始关注机构房东的增长（Revington和2020年8月）、按租建造（BTR）市场（Brill和Durrant，2020年；Nethercote，2020年）和房地产投资信托基金（Waldron，2018年），随着中介机构加深金融资本对住宅市场的影响。精心策划的国家“脱离”住房供应（Belotti 2022）使地方当局要么转移要么出售其住房存量，私人房东随时准备获取由此产生的租金提取机会（Wijburg和Aalbers 2017）。研究强调了私人房东的宽松监管和随后的糟糕管理（Brill和Durrant 2021），但相比之下，住房协会（HA）受到更严格的监管，并将社会使命作为其慈善基金会的一部分，这在历史上是优先考虑租户的努力的基础（Byrne和Norris 2019；库珀2022）。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

求助全文

约1分钟内获得全文求助全文

来源期刊

Economic Geography Multiple-

CiteScore

9.70

自引率

2.90%

发文量

期刊介绍： Economic Geography is a peer-reviewed journal dedicated to publishing original research that advances the field of economic geography. Their goal is to publish high-quality studies that are both theoretically robust and grounded in empirical evidence, contributing to our understanding of the geographic factors and consequences of economic processes. It welcome submissions on a wide range of topics that provide primary evidence for significant theoretical interventions, offering key insights into important economic, social, development, and environmental issues. To ensure the highest quality publications, all submissions undergo a rigorous peer-review process with at least three external referees and an editor. Economic Geography has been owned by Clark University since 1925 and plays a central role in supporting the global activities of the field, providing publications and other forms of scholarly support. The journal is published five times a year in January, March, June, August, and November.