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  • Social Scientists have referred to the post -2008 crisis as a 'multi-faceted crisis' .Critically assess this concept with respect to the relevant literature and case study - housing in London

Social Scientists have referred to the post -2008 crisis as a 'multi-faceted crisis' .Critically assess this concept with respect to the relevant literature and case study - housing in London - Essay Example

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Social Scientists have referred to the post -2008 crisis as a 'multi-faceted crisis' .Critically assess this concept with respect to the relevant literature and case study - housing in London

However, these changes are detrimental to health and education to be precise in the long run especially for the affected children (Castells et al. 2012 pp. 44-78). The financial crisis in 2008 brought about the highest order confusion that disorganised many sectors among them the housing sector. It is easy to say that people cope with situations so as to continue surviving. This has not been true when it comes to the case of housing system in England, thus the housing situation in the United Kingdome in 2008 can only be described as a multifaceted crisis (Castells et al. 2012 pp 44-78). Over the years, say three decades before, citizens were used to the social housing system. These were houses that were owned by council, tenants paid considerately low rents for them, and they could as well buy them at subsidised prices by the government. Although there were privately owned homes, the rent rates were jointly controlled by the government. The government controlled housing rates system was not very much popular with the corporate sector though (Tourain 2014 pp 8-12).
After the global financial crisis of 2008, governments were almost brought to their knees by economic fluctuations and that brought an adverse effect to many governments throughout the world. England’s economy was no different (Dale 2014 pp354). The post- 2008 crisis has been viewed by many social scientists, among them being Hodgkinson, as a multidimensional kind of a crisis (Castells et al. 2012 pp 44-78). They argue that in as much as it is a multifaceted crisis, three main aspects of the crisis are of much weight. These aspects of the crisis are inferred to divergence in the difficulties experienced by lack of housing making the crisis to be multifaceted, and they included; the loss of affordable housing, unaffordable mortgages and a growing rate of homelessness in England and rough sleeping (Hodgkinson, et al. 2013 pp. ...Show more
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2012 pp 44-78). The global economic crisis brought into being a mostly adverse social outcomes across the globe right from individuals,…
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