European Housing Markets, Economics and Finance – After the Crisis (Special issue call for papers from Journal of European Real Estate Research)

Guest editors: Kenneth Gibb (University of Glasgow), Alex Marsh (University of Bristol)

Introduction to the Special Issue
National European housing systems were affected to different degrees by the immediate and longer-term impact of the Global Financial Crisis (GFC) after 2007. In some cases the effect was profound. Not only did the GFC bring an end to the benign macroeconomic conditions of the ‘great moderation’ but it exposed the fragility of highly-leveraged mortgage markets. This led to an historic downturn in real housing markets: in new development; in property transactions; and, often, in prices for housing and land. In several countries this market downturn had wider effects on national and regional economies, as well as disadvantaging citizens, communities and opportunities. It is arguably the case that many economists including those working in housing and real estate research either missed or misunderstood the evidence prior to the crash.

In this special issue papers are invited that reflect on this housing market reversal from a national and comparative European perspective (and a regional focus where that is appropriate). The editors are interested in original conceptual, empirical and policy papers. They are not seeking simple factual accounts of the downturn and its impacts on national housing systems – much of this ground has already been covered. Rather, the opportunity is offered for authors to contribute papers that go further and genuinely add to our understanding by exploring the underlying processes and their implications.

Scope
Specifically, the editors would welcome papers addressing the following subjects (or clearly related subjects, by agreement):

• Why were some national housing systems more resilient than others and less affected by the crisis? What are their key features and what lessons can be learned?
• To what extent were the housing economics profession and its models of markets ready and fit for purpose? How well were we able to explain the transmission mechanisms that resulted in serious damage to national housing markets and economies in different parts of Europe after 2007? How well were we predicting the scale of these impacts in advance of the GFC? What lessons can we take from the experience? What lessons have been taken by market actors (including Governments) from the experience?
• How have national housing market policies responded to the crisis and how do those responses relate to macroeconomic policy responses post 2007?
• How has national mortgage market and related policy responded? What impact has that had upon the functioning of the housing market?

Papers are welcome that focus on a single country, undertake comparative research (suitably methodologically grounded), or distinguish contrasting regions within a nation. Papers are also welcome from a non-mainstream economic perspective as well as rigorous conceptual and empirical mainstream contributions.

Submission
The editors would welcome correspondence about potential submissions. In the first instance, please send abstracts to Ken Gibb at ken.gibb@glasgow.ac.uk.

All papers will be double blind peer reviewed and read by the Editors. Papers should be submitted in the normal way to JERER, but in order for papers to be considered for this Special Issue authors must conform to the following timetable.
Key dates:

• Deadline for submission of abstracts and editorial approval to submit – by 31st October 2013
• Deadline for submission of draft papers – 31st January 2014 (this is a hard and non-moving deadline)
• Review of draft papers returned to authors by 31st March 2014
• Deadline for revised & finalized papers by 30th June 2014 (this is another hard non-moving deadline)

Please note that, as there are size restrictions on any one issue of JERER, papers maybe accepted for publication by this route but might not be accepted for the special issue. Such papers will be published in the first available spaces of the journal in a standard issue thereafter.
Please contact the editors if you would like to discuss any aspect of this special issue, including the possible submission of a paper and whether or not it would be in scope. Details are also available from Emerald
 

NEWS FROM INSTITUTE FOR HOUSING, URBAN AND REAL ESTATE RESEARCH (IHURER)

IHURER has recently made two new senior appointments: Mark Stephens and Chris Leishman. Mark Stephens has been appointed Professor of Public Policy. Specialising in housing market volatility, housing, welfare states and poverty, and comparative analysis, he will remain an Editor of Urban Studies. Mark’s recent activities included a visit to the Department of Urban Planning and Design, Hong Kong University where he gave a public lecture on “Housing Poverty and Income Poverty”. As Academic Adviser to the Joseph Rowntree Foundation’s Housing Market Taskforce, he was a speaker at the launch of the Cecodhas campaign “For economic growth and stability: affordable housing wanted!”, alongside Andor Laszlo, European Commissioner for Employment, Social Affairs and Inclusion. Mark is currently working with Kenneth Gibb (Glasgow) and Duncan Maclennan (St Andrews) on a project relating to finance for affordable housing for the Joseph Rowntree Foundation.

Professor Chris Leishman has also moved from the University of Glasgow to IHURER. In his role as Professor of Housing Economics. Chris intends to build on his recent work modelling macro, regional and local housing markets, and developing ‘client friendly’ simulation models. He also intends to launch a housing market forecasting unit in the near future, aimed primarily at the expansion of good quality housing statistics, forecasts and intelligence to counter the reduction in research and statistical reporting capacity in the housing sector in recent years. He will continue in his role as joint Managing Editor of Housing Studies.

Professor Suzanne Fitzpatrick has recently returned from a three week visit to Australia, where she made research presentations to academic and policy audiences in Sydney, Melbourne and Brisbane. She attended the AHURI/RMIT University National Homelessness Research Conference (19-20th April), where she gave papers on ‘Human Rights, Legal Rights and Homelessness’, and on ‘The Homelessness Consequences of Economic Recession and Policy Reform in England’ (the latter jointly with Hal Pawson). Suzanne also participated in the closing panel discussion at the conference, alongside Professor Dennis Culhane, from the University of Pennsylvania, and a range of leading figures in homelessness research in Australia. Other papers given by Professor Fitzpatrick during her visit included ‘Homelessness as Multiple Exclusion: Implications for Prevention and Service Delivery’ (University of Queensland/Queensland Government), ‘Housing First in Europe’ (University of New South Wales/Mercy Foundation), and ‘Preventing and Addressing Homelessness: A European Perspective’ (Homelessness New South Wales Providers Forum).

The LankellyChase Foundation has appointed IHURER to compile the UK’s first profile of severe and multiple disadvantage. This project focuses on people at the very sharpest end of interlocking disadvantages – such as homelessness, drug and alcohol misuse, poor mental health, and involvement with the criminal justice system. Coordinated and well-targeted responses to this group require a robust evidence base, however data underpinning social policy for those on the extreme margins has tended to be patchy and fragmented to date. By bringing together all of the available data into an integrated profile, the project seeks to provide policy makers, practitioners and other key audiences with a user-friendly resource that will allow them to understand the scale and nature of the issues facing the UK’s most marginalised people. They will also be able to identify key trends and concerns as they emerge, and to develop strategies to address these concerns. This 12 month project commenced on 1 June 2012, and is led by Professors Suzanne Fitzpatrick and Glen Bramley.

The first edition of the national ‘Homelessness Monitor’ for England, funded by Crisis and undertaken by IHURER and University of York, was published  in autumn last year, attracting considerable press attention in the UK. Crisis have now extended this project to cover Wales and Scotland, and all three 2012 Homelessness Monitors (and a Great Britain summary) will be published in autumn this year.

Dr Sarah Johnsen and Prof Suzanne Fitzpatrick, together with Anwen Jones (York), have recently begun an evaluation of ‘reconnections’ schemes for rough sleepers in England. The study is funded by Crisis and will explore both the effectiveness and ethicality of reconnection approaches.

Professors Hal Pawson (IHURER) and Steve Wilcox (York) continue to work on the UK Housing Review. The 2012 edition is already available, while the 2012 mid-year briefing will shortly be available on: http://www.york.ac.uk/res/ukhr/ukhr1112/index.htm and http://www.york.ac.uk/res/ukhr/ukhr1112/briefingpaper2011.htm

Professor Colin Jones and Dr Neil Dunse are editors, along with Michael White (Nottingham Trent) of "Challenges of the Housing Economy: An International Perspective" (Wiley-Blackwell, April 2012).  It features chapters on the housing market experiences of Australia, China, Denmark, Germany, Japan, Spain, the UK and USA looking at long term trends and issues, and the impact and responses to the international financial crisis.  These chapters are written by academics from the respective countries.  There are also chapters that examine the international evolution of social housing and the private rented sector.

A number of PhD opportunities are being offered in Heriot-Watt University’s School of the Built Environment (closing date 31 July). For details see:  http://www.sbe.hw.ac.uk/research/postgraduate/opportunities/july-sbe-research-scholarships.htm