ABSTRACT
The first chapter addresses the policy question of why affordable housing is difficult to provide in welfare states that have otherwise been successful in raising social and economic welfare and making everyday life qualitative better. The concepts of housing security and housing welfare are introduced and examined in terms of their significance for both households and the wider economic system, including not the least the finance industry that commonly relies on real estate and housing assets as collateral in the credit formation process. The chapter provides the first of two theoretical chapters that serve to frame the empirical material reported in Part 2 of the volume.
