Housing and housing markets across the developed world have been in a state of considerable flux since 2005 when the ideas for this book first began to take shape. In many parts of the developed world it was a time of economic growth, financial stability, booming housing markets and policy reformation, but that environment has both changed and become more fragmented over the past five years. These external shocks have inevitably influenced the development of this book.

In common with much contemporary social science, Housing Transitions has its origins in research undertaken for the public sector, albeit a public sector attracted to, and intrigued by, the long-running academic literature on ‘housing careers’. Through discussions with the Australian Housing and Urban Research Institute (AHURI), Australian government housing bodies began to ask, ‘how are housing careers changing in the 21st century, and what are the implications for the forms of government assistance that will be needed now and into the future?’ In particular, government bodies in Australia were concerned about three questions of policy relevance. First, over the coming decades what will be the impact of the ageing of the ‘baby boom’ cohort in terms of housing and the demand for housing assistance? Second, is the apparent decline in entry into homeownership amongst 25- to 34-year-olds robust, and what are the implications of this for the demand for housing assistance in the long term? Third, what forms of government housing assistance will be necessary and appropriate in the 21st century given changes in household structure, labour markets and philosophical shifts in attitudes to government intervention?

One of the public sector drivers for establishing research into 21st century housing careers was recognition that the ageing baby boomer cohort had the potential to challenge the future stability of the housing system. There was a perception that the decisions this generation took upon leaving paid work, and potentially seeking new housing in retirement, carried risks for society, governments and individuals. Older people make substantial use of public assistance, including in the housing sector, and the rapid escalation in the population aged over 60 could lead to an exponential growth in demand for housing support. Moreover, the ‘leading edge’ of the baby boom those – aged 55 to 60 – was seen to be a significant indicator of trends and developments likely to take place over the next two to three decades.