The Political Economy of Housing in Ireland

This chapter examines the political economy of housing in Ireland since the turn of the nineteenth century. It identifies three phases. The early and mid-twentieth century saw enormous state intervention, with the Irish welfare state becoming property based and home ownership being socialized. The closing years of the twentieth century saw state intervention diminish, and the consequent shaping of housing dynamics by financial markets. This drove a house price and building boom, before bust in the mid-2000s. The years since the financial crisis have seen an intensification of neoliberalization and financialization, through the ever greater marketization of housing and the development of links between global capital and urban development, asset ownership, and housing. This analysis shows the central role that housing has played in the Irish political economy. It also demonstrates significant long-term continuity in housing policy, and the importance of taking into account national institutional, political, and cultural contexts.