Re-Imagining Housing Provision from Markets to Welfare

Cities around the world are facing a global housing crisis characterized by rising unaffordability, slums, gentrification, inequality, and urban segregation. The Global Financial Crisis highlighted the detrimental impact of highly financialized housing markets. This Article argues that transitioning from a market-based to a welfare-oriented approach is both necessary and feasible to ensure the right to adequate housing for everyone. This shift requires a fundamental re-imagining of housing issues, recognizing that the root causes lie in a political economy where law plays a pivotal role, crossing traditional boundaries between private and public law. We illustrate the legal foundations of adopting a welfare-based approach to the political economy of housing law, contrasting it with a market-based approach in three key areas: Land use regulation, housing finance, and rental markets.