독일의 사회적 시장경제와 주택체제: 금융자본주의 시대의 독일 주택 정책과 제도

초록

The global financial crisis in 2008 through 2009 aroused critical reflections about a growth model based on free housing finance and mortgage debt, and led to a reappraisal of the German social market economy. While recent literature on German economy has concentrated on the production and employment regimes, there has been little interest in the importance of the German housing system for accounting for German exceptionalism. Germany neither fully participated in the speculative activities of the global financial capital, nor introduced the highly lucrative but high-risk growth model based on housing investments. Instead, the German housing system developed a unique private-social mixture which combined market economy and social regulation in both the owner-occupied sector and the rental sector. Such institutional system has been established in the 1960s and the 1970s, when the Christian Democratic Party and the Social Democratic Party pursued respectively liberalization and regulation without excluding the opposite side.Since the 1980s German housing policies continued liberalization, but the institutional cores of the prior period have not been violated.

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