Towards a virtual statecraft: Housing targets and the governance of urban housing markets

Raco, Mike; Ward, Callum; Brill, Frances; Sanderson, Danielle; Trigo, Sonia Freire; Ferm, Jessica; Hamiduddin, Iqbal; Livingstone, Nicola

doi:10.1016/j.progress.2022.100655

Cited by 13 publications

(4 citation statements)

References 81 publications

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“…The fact that the uneven supply of public goods can significantly impact housing prices has spurred wide discussions about housing affordability and the resulting social inequality. Research conducted by Chetty et al [27] and Raco et al [28] demonstrates that the unequal distribution of public facilities leads to socioeconomic disparity. Communities with superior amenities are unaffordable for low-income families, thereby exacerbating social stratification.…”

Section: Literature Reviewmentioning

confidence: 99%

Reconstructing Social Segregation in Danwei: An Examination of High-Quality Education Resources’ Impact on Housing Prices in Nanjing, China

Jin,

Zhao,

Liu

2023

Buildings

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This study investigates the impact of capitalizing educational resources on housing prices. As housing has gradually transitioned from a basic social right to a means of accumulating individual and familial wealth, it has emerged as a significant indicator of social stratification and has increasingly become a crucial tool for the intergenerational reproduction of social class. This paper takes Nanjing, China, as a case study and uses the geographically weighted regression model (GWR) and the hedonic pricing model (HPM) to investigate the impact of high-quality primary schools on housing prices. The results show that high-quality educational resources have become the most significant influencing factor on residential prices in Nanjing. The analysis in the mechanism section further indicates that the uneven distribution of educational resources in China is a continuation of the “danwei” system. Moreover, during the urbanization process, these high-quality educational resources are often leveraged by the government and developers, who see them as essential tools to attract investment and inflate housing prices. Therefore, the current overlap of the school district system and the marketization of housing in China not only intensifies residential segregation within the city, leading to severe residential inequality but also rebuilds social segregation within “danwei” and facilitates its reproduction.

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Section: Literature Reviewmentioning

confidence: 99%

Reconstructing Social Segregation in Danwei: An Examination of High-Quality Education Resources’ Impact on Housing Prices in Nanjing, China

Jin,

Zhao,

Liu

2023

Buildings

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“…For example, former public housing providers, which are asset-rich organisations, have become increasingly entangled in capital markets (Aalbers et al, 2017), but their social objectives, i.e., to provide affordable housing for low-income households, can be jeopardised by profit-seeking financial practices and risks (Wainwright and Manville, 2017). In response, the state has developed new managerial techniques to capture private profits for public policy objectives (Raco et al, 2022).…”

Section: Variegated Housing (De-)financialisation As City Statecraftmentioning

confidence: 99%

Housing (de-)financialisation under state entrepreneurialism in China: The revival of affordable housing and Shanghai’s shared-ownership housing scheme

Shen

Luo

Sun

2022

Transactions in Planning and Urban Research

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While the emergent literature has clearly documented the unfolding of housing financialisation in urban China, a counter-trend occurring simultaneously has received little attention. Focusing on the revival of affordable housing and Shanghai’s shared-ownership housing (SOH) scheme, this study examines how housing financialisation is simultaneously facilitated and managed by the state. Rather than extending housing finance to low-income groups as in many Western societies, the statecraft in China is characterised by segmented housing (de-)financialisation. On the one hand, the strategy has included as many families as possible for housing financialisation; on the other hand, it has excluded low- to middle-income families to reduce financial risk and maintain social stability. SOH merges the two rationales into one by using financial capacity as an implicit eligibility criterion. While lower-middle-class families have been drawn into shared homeownership, they have been frustrated by constraints on assetisation and have become losing subjects of financialisation.

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“…Therefore, decisions tend to favour any development that meets between 35 and 50% of affordable homes. This mechanism of hierarchical control from higher-tier governments has been recently explored (Raco et al, 2022). However, from a negotiation and place-shaping perspective, an notes:…”

Section: Housing Targetsmentioning

confidence: 99%

Opportunities and Challenges of Municipal Planning in Shaping Vertical Neighbourhoods in Greater London

Morato

2022

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Production of housing in London is driven by three factors: a housing crisis that requires the construction of more than 1.6 million homes by 2025, a model of social housing production mainly delivered through private developers’ contributions, and a metropolitan governance structure through which housing targets are allocated to municipalities with highly unequal pressures, being inner London boroughs the ones with the highest targets to meet. In the context of a non-prescriptive and liberalised planning system, this threefold scenario has resulted in the construction of unprecedented residential landscapes, dominated by high-density and high-rise buildings. Tower Hamlets Council is at the forefront of this challenge both in the UK and Europe and is trying to develop planning tools to shape them. This article discusses three innovative supplementary planning documents (SPDs) produced by the policy team that have had unequal success in shaping different aspects of this form of development: the South Quay Masterplan SPD, the High Density Living SPD, and the soon-to-be-adopted Tall Building SPD. A comparative analysis of these planning documents and the perception of urban planners working at different stages of the planning process on the effectiveness and limitations of these SPDs in shaping vertical neighbourhoods shed light on the key factors influencing the role municipal planning can have in delivering a built environment that supports residents’ quality of life. By doing so, this case study illustrates the limitations of municipal planning and planners in local government, pointing to more structural and strategic issues of metropolitan governance.

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Towards a virtual statecraft: Housing targets and the governance of urban housing markets

Cited by 13 publications

References 81 publications

Reconstructing Social Segregation in Danwei: An Examination of High-Quality Education Resources’ Impact on Housing Prices in Nanjing, China

Reconstructing Social Segregation in Danwei: An Examination of High-Quality Education Resources’ Impact on Housing Prices in Nanjing, China

Housing (de-)financialisation under state entrepreneurialism in China: The revival of affordable housing and Shanghai’s shared-ownership housing scheme

Opportunities and Challenges of Municipal Planning in Shaping Vertical Neighbourhoods in Greater London

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