Resisting financialization of housing: why Vienna is relatively successful

Johannes Jäger and Elisabeth Springler

Chapter 2 in Resisting the Financialization of Housing, 2026, pp 13-27 from Edward Elgar Publishing

Abstract: Vienna is regularly cited as a showcase for the successful provision of affordable housing to a large proportion of the population. The Viennese housing model can only be understood in its specific historical context, shaped by an accumulation model oriented towards productive development and related social struggles. Key institutions such as rent controls, which continue to influence policy today, date back to the First World War. Later, the housing policy of Red Vienna in the 1920s created a substantial share of the large stock of social housing that still exists. In the post-war period this policy was maintained, while a cooperative housing model was introduced. From the 1980s and 1990s onwards, however, the decommodified housing system began to erode. The rise of neoliberal ideas and the emergence of new actors promoting the commodification and financialization of housing also affected Vienna. However, the chapter explains why important institutions of decommodified housing production and provision continue to function effectively today.

Keywords: Vienna; Financialization of housing; Decommodification of housing; Critical Political Economy; Post-Keynesianism (search for similar items in EconPapers)
Date: 2026
ISBN: 9781035379637
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