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dc.contributor.authorBrill, Frances
dc.contributor.authorRaco, M
dc.contributor.authorWard, C
dc.date.accessioned2022-01-29T00:30:37Z
dc.date.available2022-01-29T00:30:37Z
dc.date.issued2022-02-26
dc.identifier.issn0969-7764
dc.identifier.urihttps://www.repository.cam.ac.uk/handle/1810/333405
dc.description.abstract<jats:p> ‘Patient capital’ is presented by many policymakers as a panacea to address domestic (and sometimes city-level) gaps in financing urban development, particularly housing, that emerged in the post-2008 credit crunch. In this article, we analyse the complexities of patient investors’ entry into residential markets in London and their response to the first major, and unexpected, crisis of demand: the COVID-19 pandemic and immediate falls in market demand. We focus on how patient capital and the firms invested in the professionalised rental market, build to rent (BTR), have responded. We highlight three main responses: (1) advancing their lobbying efforts to secure a more supportive political environment; (2) protecting their income streams by offering new payment plans and adaptability to prevent void rates; (3) turning to a ‘reserve army’ of renters backed by the state – so-called Key Workers (KWs). We argue these demonstrate a continual and co-evolutionary dimension to policy promoting patient capital and the need for patient planning to govern patient investment in housing systems. Our findings are in ‘real-time’ and highlight the importance of structural uncertainties and the breakdown of long-term assumptions in shaping investment decisions. </jats:p>
dc.publisherSAGE Publications
dc.rightsAll Rights Reserved
dc.rights.urihttp://www.rioxx.net/licenses/all-rights-reserved
dc.titleAnticipating demand shocks: Patient capital and the supply of housing
dc.typeArticle
dc.publisher.departmentGirton College
dc.date.updated2022-01-28T08:31:37Z
prism.publicationNameEuropean Urban and Regional Studies
dc.identifier.doi10.17863/CAM.80829
dcterms.dateAccepted2021-12-07
rioxxterms.versionofrecord10.1177/09697764211069837
rioxxterms.versionAM
dc.contributor.orcidBrill, Frances [0000-0002-5438-7605]
dc.identifier.eissn1461-7145
rioxxterms.typeJournal Article/Review
cam.issuedOnline2022-02-26
cam.orpheus.successWed Mar 23 10:26:27 GMT 2022 - Embargo updated
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cam.depositDate2022-01-28
pubs.licence-identifierapollo-deposit-licence-2-1
pubs.licence-display-nameApollo Repository Deposit Licence Agreement
rioxxterms.freetoread.startdate2022-02-26


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