History of the Housing Crisis

Rebecca Searle's History of the Housing Crisis explores the long history of the crisis, tracing the growth of owner occupation, the rise and fall of council housing, and the legacy of the strikes. She highlights how successive property booms were fueled by lenders using financial mechanisms to displace risk and extend loans to lower-earning households, leading to the largest housing bubble yet seen.

Format: Hardback
Length: 138 pages
Publication date: 23 November 2022
Publisher: Bloomsbury Publishing PLC

Rebecca Searle's "History of the Housing Crisis" provides a comprehensive exploration of the long history of the housing crisis, offering three key stories that shed light on the contemporary situation. The first story delves into the growth of owner occupation, highlighting how successive generations of parliamentarians sought to contain the disruptive potential of democratization by promoting home ownership. The second story chronicles the rise and fall of council housing, tracing how a rent strike organized by Glasgow women in the 1970s led to the introduction of rent controls and council house building. The third story explores the surprising legacy of these strikes, which played a significant role in boosting the housing finance industry. Searle's analysis reveals how successive property booms were fueled by lenders using financial mechanisms to displace risk and extend loans to lower-earning households. As interest rates rose, overextended borrowers faced increased strain, leading to wider economic turbulence. Today, we stand at the precipice of the largest housing bubble yet seen, and Searle's book offers a timely intervention on how housing policy can better address the needs of the people.

Weight: 352g
Dimension: 159 x 237 x 17 (mm)
ISBN-13: 9781786616241