When homes earn more than jobs: the rentierization of the Australian housing market

This article develops the concept of housing market ‘rentierization’ to describe shift in treatment away from its use as a consumption good an asset which economic rent can be extracted. Rentierization encompasses, but goes beyond, ‘financialisation housing’ that has been focus attention recent political economy literature it involves changes across land and policy, fiscal-policy well financial policy spheres. We examine Australia canonical example rentierization, conducting historical case study examines returns over 20th century trace roots developments preceded liberalization 1980s, including privatization public 1960s 70s.