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Testing Home Ownership as the Cornerstone of Welfare: Lessons from East Asia for the West

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  • Richard Ronald
  • John Doling

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.

Suggested Citation

  • Richard Ronald & John Doling, 2012. "Testing Home Ownership as the Cornerstone of Welfare: Lessons from East Asia for the West," Housing Studies, Taylor & Francis Journals, vol. 27(7), pages 940-961.
    • Handle: RePEc:taf:chosxx:v:27:y:2012:i:7:p:940-961
    DOI: 10.1080/02673037.2012.725830
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    Cited by:

    1. Bo Kyong Seo & In Hyee Hwang & Yi Sun & Juan Chen, 2022. "Homeownership, Depression, and Life Satisfaction in China: The Gender and Urban-Rural Disparities," IJERPH, MDPI, vol. 19(22), pages 1-13, November.
    2. Natacha Aveline-Dubach, 2017. "Centrality of Land in the Capital Accumulation Regime in China [La centralité du foncier dans le régime d’accumulation du capital en Chine]," Post-Print halshs-01556558, HAL.
    3. Rshood M. Al-Khraif & Abdullah N. Al-Mutairi & Khaled O. Alradihan & Asharaf Abdul Salam, 2018. "Retiree home ownership in Saudi Arabia: the role of geographic, demographic, social and economic variables," Journal of Population Research, Springer, vol. 35(2), pages 169-185, June.

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