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Christine Whitehead London School of Economics(tC(/((O     Housing Research Network Launch  Housing Futures ODPM, Wednesday 12th November*TH  S Structure of contribution  DGeneral overview Specific agenda Personal view Chances of successTED fWhat we do and what we don t do in housing research3 Mainly policy oriented  funding sources; data availability; impact; Mainly descriptive  including assessing what has happened; comparisons; evaluation; Far less  positive economics  measuring relationships - and very little notice taken of what there is; Relatively little linkages with other areas  eg urban; labour market ; social security No up-to-date textbook available Z(5  J  Implications  6Strengths: relationship with policy makers  involvement in setting agenda? /possibly  over long run  modify outcomes?????? Weaknesses  blowing in the wind?  interesting questions but inadequate time/resources/new blood to develop understanding Costs and benefits of bring wrong!  Why Housing Economics? Attributes of good  complexity; longevity; specificity; spatially fixed; Both consumption good and asset; Importance in individual budgets; Merit good? Importance in government budgets; Importance in the macro-economy. (  G Specific Areas of Longer Term Interest: Housing and the macro economy HG$G Aspatial discussion  my colleagues doing neighbourhood/spatial relationships! The macro-economy and housing/ housing and the macro-economy/ feedback between the two; Relative strengths of different elements  the economy drives housing but housing enables enables certain outcomes; Currently perceived as negative but many positive aspects WW  M  /Specific Areas of Interest: Housing as an Asset/ &Housing as an asset Value of housing as a means of restructuring spending over lifetime; Relationship with pensions policy/implications for housing market and national economy; Concentration of investment  portfolios in relation to risk v inherent value of owner-occupation Z  9Specific Areas of Interest: Housing and Broader Policies :8$9 Impact of educational debt on tenure and housing decisions; Intergenerational transfers; Long term patterns of lifetime investment * Links to housing as a income elastic good and implications of growth for demand for space/quality etc. (h  /Specific Areas of Interest: Housing Replacement/ Is housing a perpetual asset? How/why distinguish low demand from choice between rehabilitation and renewal; Relationship with regulatory environment; Potential impacts of environmental policy * Extent to which these questions can be addressed from basic housing models?.ZZLZ  The Role of Social Housing  ^What do we mean by social/affordable housing Administered v market mechanisms  market v state failure  does the market always win in housing terms? Housing as a private good?/housing as a means of offsetting other market failures? What are the necessary economic conditions for economics to survive? 0Z0 0   Implications  .These are fundamental areas of the positive economics of housing and housing finance  they inform policy but also strengthen understanding and allow us to examine baseline trends and potential structural change. There aren t always answers - but we need to start from the analysis and fundamentals not necessarily the policy Have we made much progress over the last twenty years?  will we over the next?Z   A Personal View  Grey skies rather than blue  is that just age? Lack of progress on developing agreed evidence base But some signs of optimism?  The Evaluation of English Housing Policy project?  Looking forward  a more fundamental examination of relationships as well as policy led analysis  but only if can make policy makers take notice!LL L  Chances of Success  Not very great  but persistence tells Problems of data  what we measure is what we are? Implications of privatisation for capacity to obtain data and undertake analysis Urban or housing economics? A new generation of researchers   ` f3Eh` ff` MMMwww` ff3f3>?" dd@,?nKd@  d @nK` d n?" dd@   @@``@n?" dd@  @@``PR    @ ` ` p>> %     (  T 1  1"  S BC1DEF ?Z B 0Z @1  S BB C DEF?rA r @\   S B+ C DEF?v*  v @   S BCIDEF??H\ @ I  Nj gֳgֳ ? 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Christine Whitehead London School of EconomicsStructure of contribution4What we do and what we dont do in housing research ImplicationsWhy Housing Economics?H Specific Areas of Longer Term Interest: Housing and the macro economy 0Specific Areas of Interest: Housing as an Asset:Specific Areas of Interest: Housing and Broader Policies 0Specific Areas of Interest: Housing ReplacementThe Role of Social Housing ImplicationsA Personal ViewChances of Success  Fonts UsedDesign Template Slide Titles  6> _PID_GUIDAN{E8278021-FA45-4BBC-A22C-A3D613D46204}Root EntrydO)M@Current User(SummaryInformation(0#PowerPoint Document(^  !"#$%&'()*+,-./123456789:;<=>?@ACDEFGHIT _^HES09716  !"#$%&'()*+,-./123456789:;<=>?@ACDEFGHIKLMNOPQTRoot EntrydO)Current UserJSummaryInformation(0#PowerPoint Document(^DocumentSummaryInformation8B