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    From Crisis to Corporate Capture: Housing Financialisation in Post-Global Financial Crisis in Ireland, Tenants’ Experience and Potential for De-financialisation


    Sassi, Juliana (2025) From Crisis to Corporate Capture: Housing Financialisation in Post-Global Financial Crisis in Ireland, Tenants’ Experience and Potential for De-financialisation. PhD thesis, National University of Ireland, Maynooth.

    Abstract

    This thesis investigates the emergence and consolidation of Corporate Landlords (CLs) in Ireland’s private rental sector (IPRS) after the Global Financial Crisis (GFC), with the overarching objective of understanding how financialised housing regimes reshape provision, tenants’ experience, and patterns of capital accumulation – and how tenant organising might enable definancialisation. The study addresses this problem in the context of Ireland’s growing dependence on global investment vehicles to supply housing amid persistent shortages, escalating rents, and housing insecurity. It employs a mixed-methods approach – combining document and policy analysis, case studies, secondary data, and qualitative interviews with tenants, corporate landlords and other stakeholders – to trace long-term structural shifts while capturing investors' needs and the everyday lived realities of financialised renting. Therefore, four central findings have emerged. First, the Irish state has actively constructed the institutional architecture to enable the expansion of CLs, entrenching core-semi-periphery dependency dynamics. Rather than neutral regulation, state interventions consistently prioritise the needs of developers and investors over those of tenants. Second, CLs in Ireland demonstrate growth without development: companies predominantly acquire existing stock, centralising ownership without materially improving supply, affordability, or quality. Their spatial strategies have also extended into lower-income and marginalised areas to extract class monopoly rents while closing rent gaps (Smith, 1979) and reproducing uneven development. Third, the data collected indicate the fundamentally conflicting interests of tenants and CLs, and highlight the need to resolve a long-standing dispute over housing as an asset versus housing as a place to live and thrive, particularly as CLs increasingly develop an interest in the social housing sector. Fourth, it identified that financialisation reshapes everyday tenant life through insecurity, technological mediation and shareholder-value imperatives, informing contradictory subjectivities – ranging from internalised market logics to the formation of oppositional identities that fuel tenant organising. Ultimately, the study argues that resolving Ireland’s housing crisis requires moving beyond market-led approaches toward non-commodified, definancialised, socially grounded housing systems, where tenants are at the forefront of the process.
    Item Type: Thesis (PhD)
    Keywords: Crisis; Corporate Capture; Housing Financialisation; Post-Global Financial Crisis; Ireland; Tenants’ Experience; De-financialisation;
    Academic Unit: Faculty of Social Sciences > Geography
    Item ID: 21973
    Depositing User: IR eTheses
    Date Deposited: 08 Oct 2026 15:35
    Use Licence: This item is available under a Creative Commons Attribution Non Commercial Share Alike Licence (CC BY-NC-SA). Details of this licence are available here

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