You searched for: Content Type Commentary and Analysis Remove constraint Content Type: Commentary and Analysis Publishing Institution Max Planck Institute for the Study of Societies Remove constraint Publishing Institution: Max Planck Institute for the Study of Societies Political Geography Global Focus Remove constraint Political Geography: Global Focus Publication Year within 1 Year Remove constraint Publication Year: within 1 Year Topic International Political Economy Remove constraint Topic: International Political Economy
- Author: Sebastian Kohl
- Publication Date: 10-2018
- Content Type: Commentary and Analysis
- Institution: Max Planck Institute for the Study of Societies
- Abstract: America’s “infatuation with homeownership” has been identified as one cause of the latest financial crisis. Based on codings of 1,809 party manifestos in 19 OECD countries since 1945, this paper addresses the question of where the political ideal to democratize homeownership came from. While conservative parties have defended homeownership across countries and time, center-left parties have oscillated between a pro-homeownership and a pro-rental position. The former occurs in Anglo-Saxon, Northern and Southern European countries, while the latter prevails among German-speaking countries. Beyond partisan effects, once a country has a majority of homeowners and parties defending homeownership, larger parties are more likely to support it. The extent of center-left parties’ support for homeownership is conditionally associated with higher homeownership rates, more encouraging mortgage regimes, and a bigger housing bubble burst after 2007. The ideational origins of the financialization of housing and private Keynesianism are, after all, not only conservative and market-liberal.
- Topic: International Political Economy, Domestic politics
- Political Geography: Global Focus