Varieties of Home Ownership: Ireland’s Transition from a Socialised to a Marketised Policy Regime

Abstract

This article presents an historical institutional analysis of government supports for home ownership in Ireland. In doing so, it critiques the interpretation of the Irish home ownership system and, by extension, of this tenure’s meaning and role as a neo-liberal project which dominates the comparative housing literature. Rather than liberal policies, the article argues that between the 1920s and 1970s, government subsidies slowly expanded, in terms of generosity, variety and universal availability, to such a scale that Ireland’s home ownership regime was effectively ‘socialised’. This regime (not market forces) raised home ownership to 80 per cent of households. However, ideological, financial and socio-economic supports for this regime weakened and during the 1980s home ownership was marketised as universal subsidies were withdrawn and mortgage lending privatised. The implications of this redirection were initially disguised by low house price inflation, but when the economy boomed in the 1990s home ownership contracted sharply to levels which could be supported solely by the market.