Housing Strategies in an Uncertain Market

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Abstract
The slump in house prices in the early 1990s created a degree of uncertainty in the housing market which contrasts markedly with the optimism of the 1980s. In particular, the market downturn made it sharply apparent that there could be losers as well as winners in the unstable housing market. This study looks at a sample of owner occupiers drawn from Glasgow and Bristol in 1995. While still endorsing home ownership as the major housing option and as potentially enabling in housing and neighbourhood terms, a note of caution is recognisable. Aspirations to climb the housing ‘ladder’ are tempered by fear of overextending financially and by the broader uncertainties that people perceive to be endemic in the labour market and the housing market. Strategies reflect both diverse personal histories and the adoption of defensive or risk reduction options. For many respondents maintaining current housing standards is more important than market advancement.