The spatial polarisation of housing markets & divided access to housing wealth accumulation скачать в хорошем качестве

The spatial polarisation of housing markets & divided access to housing wealth accumulation

Residential real estate represents by far the largest store of wealth globally and is fundamental in structuring societal inequalities. The central role of housing wealth in driving inequality, however, is relatively neglected. Housing markets have transformed through ongoing integration with global capital, financialization and household wealth strategies. Resulting intensified capital flows into property, however, appear increasingly spatially uneven. This is entangled in dynamics of uneven development, demographic shifts, segregation and gentrification. Together, these imply a spatial polarization of housing markets across multiple scales, where specific submarkets – across regions, cities, or neighbourhoods – see growing shares of asset accumulation. Concurrently, there is evidence of increasingly divided access to housing. Socio-economic position and, increasingly, parental resources appear essential. Where spatial polarization in asset-returns combine with divided access, this implies a powerful, yet poorly-understood, mechanism of rising inequality. Dr Rowan Arundel's recently launched VENI project examines these dynamics across the Netherlands, the UK and Spain. In this talk, Dr Rowan Arundel will situate this research within his wider investigations of growing housing inequalities across advanced economies and present key preliminary results on understanding the amplifying role of spatial divisions in housing markets. This talk is hosted by the University of Sydney's Henry Halloran Research Trust.