2026/01/26 by Matthias Haslberger, Mads Andreas Elkjær, Ben W. Ansell · 4 voices
Economics, Econometrics and Finance · Social Sciences · #Housing, Finance, and Neoliberalism #Housing Market and Economics #Urban Planning and Governance
paper · pdf · doi:10.1080/01402382.2026.2616109
Why do some citizens feel that political institutions are responsive to people like them, while others do not? Existing research highlights the role of education and income in shaping external political efficacy, but little is known about the role of wealth. This article argues that homeownership serves as a key marker of economic and social success, shaping perceptions of political inclusion, particularly later in life. While younger renters may still aspire to homeownership, older renters are more likely to confront the realisation that they will never make it onto the property ladder, undermining their efficacy. This argument is examined using original survey data from over 10,000 adults in the United Kingdom. The findings show that homeownership is positively associated with external political efficacy, particularly among older individuals. These results emphasise housing wealth as a critical driver of political inclusion and highlight its broader implications for democratic legitimacy in unequal societies.