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Housing Market Failure in a Booming Economy

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  • Fiona M. Haslam McKenzie
  • Steven Rowley

Abstract

This paper presents national data and two case studies investigating the links between housing market failure and the context of Australia's recent resource mining boom. It demonstrates how unprecedented international demand for mineral resources resulted in critical, local housing issues in mining communities. We conclude that without careful strategic planning and understanding of the economic and social role of housing, international market dynamics can create local housing situations that are vulnerable to market and social failures. While this paper highlights the challenges inherent in managing housing issues in Australia during a mining boom, there are likely to be lessons which can be applied in international settings. These challenges include the diversity in scale, cyclical and often unpredictable nature of booms; differences in housing policy and institutional arrangements across jurisdictions and the importance of leadership in growth management and planning.

Suggested Citation

  • Fiona M. Haslam McKenzie & Steven Rowley, 2013. "Housing Market Failure in a Booming Economy," Housing Studies, Taylor & Francis Journals, vol. 28(3), pages 373-388, April.
    • Handle: RePEc:taf:chosxx:v:28:y:2013:i:3:p:373-388
    DOI: 10.1080/02673037.2013.759177
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    Cited by:

    1. Moses Nyakuwanika & Huibrecht Margaretha van der Poll & John Andrew van der Poll, 2021. "A Conceptual Framework for Greener Goldmining through Environmental Management Accounting Practices (EMAPs): The Case of Zimbabwe," Sustainability, MDPI, vol. 13(18), pages 1-26, September.
    2. Owen, J.R. & Kemp, D. & Marais, L., 2021. "The cost of mining benefits: Localising the resource curse hypothesis," Resources Policy, Elsevier, vol. 74(C).
    3. Williams, Galina & Nikijuluw, Ruth, 2020. "Economic and social indicators between coal mining LGAs and non-coal mining LGAs in regional Queensland, Australia," Resources Policy, Elsevier, vol. 67(C).
    4. David A. Fleming & Thomas G. Measham & Dusan Paredes, 2015. "Understanding the resource curse (or blessing) across national and regional scales: Theory, empirical challenges and an application," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 59(4), pages 624-639, October.
    5. Laura Ryser & Sean Markey & Greg Halseth, 2020. "Scaling up and scaling down supply chains in volatile resource-based economies," Local Economy, London South Bank University, vol. 35(8), pages 831-851, December.
    6. Bainton, Nicholas & Holcombe, Sarah, 2018. "A critical review of the social aspects of mine closure," Resources Policy, Elsevier, vol. 59(C), pages 468-478.
    7. Faith Kanjumba & Amos Njuguna & George Achoki, 2016. "Economic Factors Influence on Funding of the Supply-Side of Housing in Kenya: Case Study Nairobi," International Journal of Business and Management, Canadian Center of Science and Education, vol. 11(10), pages 194-194, September.
    8. Paul S. Ciccantell, 2020. "Liquefied Natural Gas: Redefining Nature, Restructuring Geopolitics, Returning to the Periphery?," American Journal of Economics and Sociology, Wiley Blackwell, vol. 79(1), pages 265-300, January.
    9. Laura M Ryser & Greg Halseth & Sean Markey & Marleen Morris, 2017. "New mobile realities in mature staples-dependent resource regions: Local governments and work camps," Environment and Planning C, , vol. 35(3), pages 500-517, May.
    10. Haslam McKenzie, Fiona, 2020. "Long distance commuting: A tool to mitigate the impacts of the resources industries boom and bust cycle?," Land Use Policy, Elsevier, vol. 93(C).
    11. Morrison, Nicola & Szumilo, Nikodem, 2019. "Universities’ global research ambitions and their localised effects," Land Use Policy, Elsevier, vol. 85(C), pages 290-301.
    12. Theodore Connell-Variy & Björn Berggren & Tony McGough, 2021. "Housing Markets and Resource Sector Fluctuations: A Cross-Border Comparative Analysis," Sustainability, MDPI, vol. 13(16), pages 1-19, August.
    13. Measham, Thomas & Fleming, David & Schandl, Heinz, 2015. "A Conceptual Model of the Socioeconomic Impacts of Unconventional Fossil Fuel Extraction," MPRA Paper 68523, University Library of Munich, Germany, revised 24 Nov 2015.
    14. Fleming, David A. & Measham, Thomas G., 2013. "Disentangling the Natural Resources Curse: National and Regional Socioeconomic Impacts of Resource Windfalls," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 150526, Agricultural and Applied Economics Association.

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