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Cited by 56Housing, Finance, and NeoliberalismUrban Planning and GovernanceHousing Market and Economics

When homes earn more than jobs: the rentierization of the Australian housing market

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Ryan-Collins, Josh, Murray, Cameron·2023·Housing Studies
DOI 10.1080/02673037.2021.2004091
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Abstract

This article develops the concept of housing market ‘rentierization’ to describe the shift in the treatment of housing away from its use as a consumption good to an asset from which economic rent can be extracted. Rentierization encompasses, but goes beyond, the ‘financialisation of housing’ that has been the focus of attention in the recent political economy of housing literature as it involves changes across land and housing market policy, fiscal-policy as well as financial policy spheres. We examine Australia as a canonical example of rentierization, conducting a historical case study that examines the returns to land and housing over the 20th century and trace its roots to developments that preceded the financial liberalization of the 1980s, including the privatization of public housing in the 1960s and 70s.

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  • Homeowners in big cities can earn more from the capital gains on their homes than they do from paid work.

    “Homeowners in big cities can 'earn' more from the capital gains on their homes than they do from paid work (Ryan-Collins and Murray, 2021)”

    From Mapping modern economic rents: the good, the bad, and the grey areas (2023) · cites this paper as Ryan-Collins and Murray, 2021

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Authors
Ryan-Collins, J., & Murray, C.
Affiliations
  • Institute for Innovation and Public Purpose, University College London, London, United Kingdom of Great Britain and Northern Ireland
  • The University of Sydney (AU)
ORCID
Venue
Housing Studies
Publisher
Informa UK Limited
Published
2021-11-28
Volume
38
Issue
10
Pages
1888-1917
ISSN
  • 0267-3037 (ISSN-L)
  • 1466-1810
DOI
10.1080/02673037.2021.2004091
OpenAlex
W3215471562
Cited by
56
References
0
Citations by year
2026: 10 · 2025: 16 · 2024: 11 · 2023: 13 · 2022: 3 · 2021: 3
FWCI
6.21
Type
journal article
Language
en
Open access
Licence
Locations
  • Housing Studies (publishedVersion, cc-by-nc-nd)
  • RePEc: Research Papers in Economics (submittedVersion)
  • UCL Discovery (University College London) (submittedVersion)
  • OSF Preprints (OSF Preprints) (submittedVersion)
Funders
University of Sydney
Topics
  • Social Sciences › Economics, Econometrics and Finance › Finance › Housing, Finance, and Neoliberalism
  • Social Sciences › Urban Studies › Urban Planning and Governance
  • Social Sciences › Economics, Econometrics and Finance › Economics and Econometrics › Housing Market and Economics
Keywords
housing market, financialization of housing, economic rent, land restitution, housing returns, fiscal policy, financial policy, financial liberalization, Australian housing market

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