Kováts Bence: The Financialisation of Housing and Housing-related Family Support in Hungary
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2. Theoretical foundations
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2.2. Approaches to housing support by the family
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2.2.1. The state and the market
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2.2.1.1. Fields affected by state-market relations: tenure, production and finance

2.2.1.1. Fields affected by state-market relations: tenure, production and finance

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Since the theory of housing processes has its origins in political-economic theories, it is not surprising it first focused on the shifts on the commodification/de-commodification continuum in housing and started to focus on the role of the family and reciprocity relatively late. For decades, approaches in housing studies focused on the role of the state in regulating the market, that is, de-commodification.

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Housing is often referred to as the “wobbly pillar” of the welfare state (Torgersen, 1987) since the housing market cannot operate without significant state regulation, however, total state control of the housing sector would also be difficult to maintain. Therefore, housing is never solely a public good, nor purely a market good. The state regulates the housing market, provides subsidies, and maintains a public housing stock. However, there have been hardly any housing systems in history run entirely by the state, unaffected by market mechanisms.

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The housing sector is influenced by a variety of different policy fields ranging from land-use regulations through fiscal policies to social policies, therefore it is not easy to identify the extent of de-commodification through indicators or policy review. This peculiar position of housing accounts for the fact that it is generally not included in the most fundamental theoretical works discussing the forms of redistribution in various welfare regimes.

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Due to this complexity, different theories emerged from the analysis of different fields of state intervention in housing. Commodification and de-commodification were first attempted to be analysed through tenure. Since non-profit (or cost) rental housing (owned and managed by public or private institutions that do not extract profit from rental housing) (NRH) was the most de-commodified, the extent of de-commodification was measured through the share of this type of housing.

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Changes in the regulation of different tenures over time and across regions were in the focus of a number of theoretical works. Harloe (1985, 1995), Kemeny (1981, 1992, 1995, 2006), and Kemeny, Kersloot and Thalmann (2005) have explored how different regulatory setups affect the proportion of non-profit and market rental, and owner-occupied housing in highest income countries of the world and what impact these different arrangements have on the affordability and the quality of housing. Barlow and Duncan (1994) questioned the focus of housing studies on tenure and examined the effect of distinct practices and regulations of housing production in different European regions. A recently growing body of literature examines the impact of forms of housing finance regulation on the development of distinct housing systems (Schwartz and Seabrooke, 2009b; Aalbers, 2016; Blackwell and Kohl, 2018, 2019). Ryan-Collins, Lloyd and Macfarlane (2017; Ryan-Collins, 2019) evaluate the role of the regulation of the extraction of land rent in global housing price appreciation.
 
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