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  The Political Economy of Homeownership: A Comparative Analysis of Homeownership Ideology through Party Manifestos

Kohl, S. (2020). The Political Economy of Homeownership: A Comparative Analysis of Homeownership Ideology through Party Manifestos. Socio-Economic Review, 18(4), 913-940. doi:10.1093/ser/mwy030.

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 Creators:
Kohl, Sebastian1, 2, Author              
Affiliations:
1Soziologie des Marktes, MPI for the Study of Societies, Max Planck Society, ou_1214556              
2Institute for Housing and Urban Research, Uppsala University, Sweden, ou_persistent22              

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Free keywords: homeownership, comparative politics, political economy
 Abstract: America’s ‘infatuation with homeownership’ has been identified as one cause of the latest financial crisis. Based on codings of 1809 party manifestos in 19 countries since 1945, this article addresses the question of where the political ideal to democratize homeownership came from. While conservative parties have defended homeownership across countries and time, centre-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 centre-left parties’ support for homeownership is further 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.

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Language(s): eng - English
 Dates: 2018-05-172017-04-242018-06-012018-07-102020
 Publication Status: Published in print
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 Table of Contents: 1. Introduction
2. Theoretical background
3. Political career of homeownership through party manifestos post 1945
4. Variation in centre-left support for homeownership and its consequences
5. Conclusion
Footnotes
References
Appendix
 Rev. Type: Peer
 Identifiers: DOI: 10.1093/ser/mwy030
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Title: Socio-Economic Review
Source Genre: Journal
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Pages: - Volume / Issue: 18 (4) Sequence Number: - Start / End Page: 913 - 940 Identifier: ISSN: 1475-1461
ISSN: 1475-147X