Comparing demand-side and supply-side housing policies: Sub-market and spatial perspectives
Titel:
Comparing demand-side and supply-side housing policies: Sub-market and spatial perspectives
Auteur:
Galster, George
Verschenen in:
Housing studies
Paginering:
Jaargang 12 (1997) nr. 4 pagina's 561-577
Jaar:
1997-10
Inhoud:
This paper analyses the relative merits of demand-side and supply-side strategies for attacking the housing problems faced by low-income renters. The analysis is distinctive in that it takes seriously the emerging consensus among international housing scholars about the centrality of housing quality sub-market dynamics and spatial considerations. Received theory about the nature of housing sub-markets and their adjustments to policy interventions is used to critique previous evaluations of supply-and demand-side approaches and to provide fresh insights into their ability to achieve a wide variety of programmatic goals. Numerous dimensions of spatial considerations—externalities, area-wide abandonment and revitalisation, local reinvestment psychology, racial and economic integration and freedom of household locational choice—are applied to a further consideration of these two strategies, again using several alternative goals. Finally, the paper argues for the importance of context-driven housing policy formulation. Problem definition, goal weighting, and metropolitan housing market, socio-economic, and governmental characteristics collectively must be considered before an unambiguously 'best' housing strategy can be identified. Nevertheless, the paper concludes that, with the typical context, the demand-side approach is superior to the supply-side approach.
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