The Emotional Economy of Housing | Zendy

Hazel Christie | Zendy; Susan J. Smith | Zendy; Moira Munro | Zendy

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The Emotional Economy of Housing

Author(s) -

Hazel Christie,

Susan J. Smith,

Moira Munro

Publication year - 2008

Publication title -

environment and planning a economy and space

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 1.74

H-Index - 129

eISSN - 1472-3409

pISSN - 0308-518X

DOI - 10.1068/a39358

Subject(s) - materiality (auditing) , irrational number , interpretation (philosophy) , meaning (existential) , inflation (cosmology) , economics , market economy , political economy , positive economics , psychology , aesthetics , philosophy , physics , geometry , mathematics , theoretical physics , computer science , psychotherapist , programming language

This paper offers an interpretation of the role of emotions in animating housing markets which complements more traditional economic and behavioural studies of locally based house-price inflation. Looking to debates within social psychology and cultural studies we suggest that emotions permeate the materiality and meaning of housing markets as well as the experience of individuals acting within them. Drawing on qualitative interviews conducted in Edinburgh, with households who bought in a rising market, we argue that housing transactions are emotional as well as economic affairs. We reconsider the fears that underpin what might appear to be ‘irrational exuberance’ and we argue that housing markets are propelled by a search for returns on emotional as well as financial investments

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