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Institutional Formation in Tumultuous Times: Reforming English Social Housing Regulation Post-Grenfell

English social housing regulation theoretically exists to promote the social purpose of the sector, yet the success of regulation against this objective has been questioned amidst concerns with the quality of service provided by landlords. Following the Grenfell Tower fire, the government initiated a reform process to reverse a policy of regulatory passivity on consumer standards. This paper conceives of regulatory reform as a case of institutional formation; a dynamic process that shapes conduct via rules, practices and narratives. It fills an empirical gap on how regulatory practice has responded to an ambiguous institutional environment where the governmental narrative was committed to improving standards, but formal legislation lagged. Quantitative text analysis demonstrates that the Regulator of Social Housing (RSH) has re-emphasised consumer standards post-Grenfell. But the process of institutional formation has been punctuated by social, political and economic crises, and the power of the regulator to enforce improved standards has been limited by legislative delays.

27.11.2023 | Michael Marshall | Volume: 10 | Issue: 2 | Pages: 58-69 | 10.13060/23362839.2023.10.2.559

Testing Housing Price Drivers in Santiago de Chile: A Hedonic Price Approach

Hedonic modelling is an empirical analysis technique that is widely used to review the housing market and unpack the main determinants of price. A correct determination of housing price drivers allows a weighted prediction of the value of each dwelling for sale or rent. This paper reviews the fundamental determinants of housing prices that have been published in the literature to see which ones have a better predictive fit for the case of the housing market in the city of Santiago, Chile. From a record of 456,000 property transactions, a dataset composed of 11 explanatory variables is elaborated. Through a semi-logarithmic regression, 4 variables that contribute to explaining the formation of housing prices in Santiago, Chile, are identified. The results indicate that the socioeconomic characterisation of urban areas where housing is traded, the price of copper on the London Metal Exchange, the mortgage interest rate, the age of residential buildings are the main drivers for the main drivers of prices in Santiago. Given the crisis of access to housing in Chile, the article provides relevant information for decision-makers in housing policy.

26.10.2023 | Francisco Vergara-Perucich | Volume: 10 | Issue: 2 | Pages: 44-57 | 10.13060/23362839.2023.10.2.558

Reframing Social Tectonics with the Sociology of Everyday Life: Insights from the Public Spaces of a Mixed Housing Neighbourhood

Social mix policies aim to integrate residents living in diverse forms of housing. While numerous studies have showcased the limitations of social mix in achieving this objective, explanations for this tendency remain incomplete. Accordingly, this qualitative case study adopts insights from the sociology of everyday life and interaction ritual theory to elaborate on academic understandings of (non)-interaction between disparate groups in mixed housing communities. It draws primarily from observational fieldwork and semi-structured interview data gathered in the public spaces of a transitioning mid-sized city in Ontario, Canada. The findings report how everyday encounters among and between the urban poor and wealthier residents (re)produce patterns of group solidarity and conflict. The continued application of micro-sociological perspectives to housing mix research can chronicle and perhaps mend the gaps between government housing policy objectives and the experiences of residents living within relevant legislative jurisdictions.

19.10.2023 | Timothy G. Wykes | Volume: 10 | Issue: 2 | Pages: 29-43 | 10.13060/23362839.2023.10.2.557

The Role of Housing Costs in Central Banks’ Inflation Targeting Regimes: The Cases of the Reserve Bank of Australia and the Bank of England

Since the 1990s it has become common for central banks to be charged with using interest rates to meet consumer price inflation (CPI) targets. This article examines the cases of the Reserve Bank of Australia (RBA) and the Bank of England (BoE) and finds that whereas the RBA’s CPI target includes a housing cost element, the BoE’s does not. Moreover, it finds that contrasting treatments of housing costs produce different results, depending on whether the index includes mortgage interest as a housing cost. Whilst central banks dislike CPIs that include an element of mortgage interest because of the apparently perverse outcome of increasing interest rates, they also lack credibility by excluding such an important element of the cost of living. Credibility demands that the 30-year consensus on inflation targeting by monetary policy be replaced by a broader set of tools – including fiscal policy – to control inflation.

17.10.2023 | Mark Stephens | Volume: 10 | Issue: 2 | Pages: 15-28 | 10.13060/23362839.2023.10.2.556

The Role of Neighbourly Relations and Cooperation in Residents’ Willingness to Renovate Multi-Family Buildings in Croatia

The inadequate legislation on multi-family housing management in Central and Eastern European post-socialist countries calls for the exploration of additional determinants of building renovation on the level of the community of residents in a building. To this end, we present here an analytical framework called the mediated-Renovation Decision (m-RD) model for simultaneously testing the direct and indirect effects that neighbourly relations, cooperation of the co-owners’ representative with the co-owners, and acceptance of the building co-ownership concept have on co-owners’ willingness to invest in building renovation. The model is based on assessments made by 325 co-owners’ representatives from multi-family buildings in Croatia. The results show that the quality of neighbourly relations affects the co-owner’s willingness to renovate not directly, but indirectly through the level of their acceptance of the building co-ownership concept. The other indirect effect of neighbourly relations – through the level of the representative’s cooperation with co-owners – was not significant. The demonstrated analytical value of the m-RD model advocates for more complex studies of the role of neighbourly relations in collective decision-making and actions in the housing domain.

16.10.2023 | Anamaria Klasić, Ratko Đokić | Volume: 10 | Issue: 2 | Pages: 1-14 | 10.13060/23362839.2023.10.2.555