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Testing Home Ownership as the Cornerstone of Welfare: Lessons from East Asia for the West.
- Source :
-
Housing Studies . Oct2012, Vol. 27 Issue 7, p940-961. 22p. 2 Charts, 3 Graphs. - Publication Year :
- 2012
-
Abstract
- In recent years, one driver behind the promotion of home ownership in Western countries has been the belief that owner-occupied housing assets provide a means to build up individual welfare security, potentially offsetting pension shortfalls in retirement. In contrast, many developed East Asian societies have both long focussed on advancing ‘asset’ or ‘property-based welfare’ systems as well as experienced the late-1990s Asian Financial Crisis which forced changes in housing and welfare practices. This paper examines how home ownership and asset-based welfare fared in these contexts and the lessons to be learned. It begins by considering the role of owner-occupied housing assets in different welfare regimes before empirically examining how asset-based welfare systems have been realized. It then considers how East Asian home ownership and asset-based welfare systems have stood-up to economic crises. The final section considers what the East Asian experiences contribute to an understanding of the housing assets–welfare relationship. [ABSTRACT FROM AUTHOR]
- Subjects :
- *HOME ownership
*WELFARE economics
*FINANCIAL crises
Subjects
Details
- Language :
- English
- ISSN :
- 02673037
- Volume :
- 27
- Issue :
- 7
- Database :
- Academic Search Index
- Journal :
- Housing Studies
- Publication Type :
- Academic Journal
- Accession number :
- 82848867
- Full Text :
- https://doi.org/10.1080/02673037.2012.725830