Fiscal Austerity and Rental Housing Policy in the United States and United Kingdom, 2010–2016

After the 2008 global financial crisis, both the United States and the United Kingdom introduced austerity policies targeted at particular elements of their national budgets. The purpose of this article is to compare the nature of this retrenchment; the similarities and differences in how it was implemented; and its initial impacts on one of the expenditure areas particularly affected: affordable rental housing programs and housing support for low-income households. Using a wide range of data sources, we find evidence of political and fiscal policy analogies in the timing and forms of the initial policy choices and how these were modified in the face of economic and political pressures. There are considerable similarities both in the instruments used to reduce housing expenditures and in the early impacts on support mechanisms and recipients. However, we find different histories and trajectories of support between the two countries that suggest that the longer term differences in outcomes may be more important.