14. Conclusions: The Challenges Ahead

  1. Colin Jones1,
  2. Michael White2 and
  3. Neil Dunse1
  1. Colin Jones

Published Online: 24 FEB 2012

DOI: 10.1002/9781118280829.ch14

Challenges of the Housing Economy: An International Perspective

Challenges of the Housing Economy: An International Perspective

How to Cite

Jones, C. (2012) Conclusions: The Challenges Ahead, in Challenges of the Housing Economy: An International Perspective (eds C. Jones, M. White and N. Dunse), Wiley-Blackwell, Oxford, UK. doi: 10.1002/9781118280829.ch14

Editor Information

  1. 1

    Institute for Housing, Urban and Real Estate Research, Heriot-Watt University, UK

  2. 2

    School of Architecture, Design and the Built Environment, Nottingham Trent University, UK

Author Information

  1. Institute for Housing, Urban and Real Estate Research, Heriot-Watt University, UK

Publication History

  1. Published Online: 24 FEB 2012
  2. Published Print: 4 APR 2012

Book Series:

  1. Real Estate Issues

ISBN Information

Print ISBN: 9780470672334

Online ISBN: 9781118280829

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Keywords:

  • Speculation;
  • Owner Occupation;
  • Mortgage Lending;
  • Affordability;
  • Private Renting;
  • Housing Supply

Summary

The credit crunch has highlighted shared issues about the housing economy. Synthesis of the different chapters draws out a number of commonalities and challenges:

(1) The role of speculation

(2) The consequence of the credit crunch for the housing market has been a fall in house prices across many countries but price levels have now stabilised.

(3) The long-term accessibility of homeownership and its affordability for young adults.

(4) The price adjustment in housing markets following the financial crisis has been relatively weak when contrasted with housing construction activity that has collapsed.

(5) The post-credit-crunch world with tight public sector finances means that new models of funding are required for social housing blurring the differences with private rented accommodation.

(6) Private landlordism had flourished in the housing boom but there were doubts about its future growth.