Round the Houses: Homeownership and Failures of Asset-Based Welfare in the United Kingdom

Caring for Debts: How the Household Economy Exposes the Limits of Financialisation

“…Other scholars of financialisation and the everyday have investigated how households are integrated into global financial markets through new investment and pensions schemes (Langley, 2008;Belfrage and Ryner, 2009), debt-fuelled highly leveraged housing markets (Schwartz and Seabrooke, 2008;Montgomerie and Büdenbender, 2014) and the creation of a debt safety net (Montgomerie, 2013;Soederberg, 2013). Taken together, these sources, at times implicitly, convincingly make the case that the household is the feedstock of global financial markets.…”

The effects of the distribution of mortgage credit on the wage share: Varieties of residential capitalism compared

“…For most workers, the private owner-occupied home is the most significant financ ia l asset in their portfolio, but the ability of workers to access private housing is often continge nt on their ability to access to mortgage finance, which often carries the largest household debt burden (Montgomerie and Büdenbender, 2014). The decision to take on mortgage debt when purchasing a property leads the potential borrower to internalise the demands of the lender, which establishes a motivation for individuals to have an income from employment, a sufficie nt level of savings for a down-payment, and a credit history in good standing (Langley, 2013).…”

“…Wood (2016) 3 private housing is considered a key node of financialisation that has led to an increase in household engagement with financial services through the sustained demand for mortgage credit to access owner-occupied housing (Montgomerie and Büdenbender, 2014;Aalbers, 2008;Schwartz, 2008). While housing finance has been identified as a key instrument of financialisation, there has been little examination of how engaging with the specific channel of mortgage credit may contribute to increased inequality through the observed reduction in the wage share in advanced economies, which is where this paper seeks to make an empirica l contribution.…”

The Revival of Private Landlords in Britain’s Post-Homeownership Society

“…McKee 2012). This has raised critical concerns about the longer term stability of a homeownershipbased welfare regime and the future role of housing property in welfare relations (Searle and McCollum 2014, Montgomerie and Büdenbender 2015, Smith 2015.…”