Kováts Bence: The Financialisation of Housing and Housing-related Family Support in Hungary
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5. Hypotheses, data and methods
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5.1. Hypotheses
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5.1.1. Housing-related parental support in light of financialisation and the post-state socialist transition

5.1.1. Housing-related parental support in light of financialisation and the post-state socialist transition

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The transition approach suggested that since the regime change, family support rose at times when access to mortgage was limited: in the 1990s and the years following the GFC. In turn, the spread of mortgage lending between the millennium and the GFC should have contributed to the decrease of parental support by providing a market alternative to family support (Csizmady, Hegedüs and Vonnák, 2019).

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The financialisation view paints a somewhat different picture of housing-related family support. They also assume a lower level of family support around the regime change but, instead of fluctuation, they suggest a gradual expansion from then onwards (Gagyi et al., 2019, p. 203). Although proponents of the financialisation approach do not present short-term data on parental support, they highlight the intensifying involvement of the family (and the wider reciprocity network) in the past decades. For this reason, according to this view, parental support should have neither stagnated nor decreased in the medium-term.

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Though the negative relationship between commodification and familialisation per se is questionable based on the NWE evidence, in the situation of post-state socialist Hungary, the existence of the relationship, at least until 2015, is a plausible assumption. Between the 1970s, when public housing provision started to decrease, and 2000, parental support should have logically risen. Economic downturn and the virtual halt in mortgage lending after 1989 probably increased the reliance of young adults on parental support.

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However, it is exactly the severity of the post-state socialist economic shock that makes the observer expect that the mortgage boom of the 2000s relieved families rather than increased their burdens. Furthermore, the availability and, in the run-up to the crisis, increasing affordability of market finance is expected to have led many not to choose parental support, often also accompanied by increasing control over housing choices The high number of low-income households affected by the GFC indicates that mortgages were easily accessible in the 2000s. For this reason, the trend suggested by the transition approach is hypothesised rather than that favoured by the financialisation approach.

Jegyzet elhelyezéséhez, kérjük, lépj be.!

H1: Parental support significantly increased between the 1970s and 2000, decreased in the 2000s until the GFC, and increased again in the following years.
 
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