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Property-based welfare and the search for generational equality

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  • Beverley A. Searle
  • David McCollum

Abstract

In many countries, the demographic shift towards an ageing population is occurring against a backdrop of welfare state restructuring. The paradigm of asset-based welfare may become increasingly central to these developments as individualised welfare is touted as part of the response to the challenge of funding the care of an ageing population. This article focuses on the framing of housing wealth as a form of asset-based welfare in the UK context. We consider the strengths and weaknesses of housing as a form of asset-based welfare, both in terms of equity between generations and equality within them. We argue that housing market gains have presented many homeowners with significant, and arguably unearned, wealth and that policy-makers could reasonably expect that some of these assets be utilised to meet welfare needs in later life. However, the suitability of asset-based welfare as a panacea to the fiscal costs of an ageing population and welfare state retraction is limited by a number of potential practical and ethical concerns.

Suggested Citation

  • Beverley A. Searle & David McCollum, 2014. "Property-based welfare and the search for generational equality," International Journal of Housing Policy, Taylor & Francis Journals, vol. 14(4), pages 325-343, October.
    • Handle: RePEc:taf:intjhp:v:14:y:2014:i:4:p:325-343
    DOI: 10.1080/14616718.2014.955334
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    Cited by:

    1. Baulkaran, Vishaal & Jain, Pawan, 2024. "Home equity and retirement funding: Challenges and opportunities," Global Finance Journal, Elsevier, vol. 61(C).
    2. Adriana M Soaita & Beverley A Searle, 2016. "Debt amnesia: Homeowners’ discourses on the financial costs and gains of homebuying," Environment and Planning A, , vol. 48(6), pages 1087-1106, June.
    3. Hollanders, David, 2016. "Pension systems do not suffer from ageing or lack of home-ownership but from financialisation," Other publications TiSEM 101cb77f-ea9c-47bc-930d-0, Tilburg University, School of Economics and Management.
    4. Amy Horton, 2022. "Financialization and non-disposable women: Real estate, debt and labour in UK care homes," Environment and Planning A, , vol. 54(1), pages 144-159, February.

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