War of family defence? Moral economies of property investors in urban China

Abstract

Property investment is not an uncontroversial economic activity in urban China where investors are vulnerable to accusations of ill-gotten gain. How do housing investors struggle with questions of ‘legitimacy’ and negotiate social responsibilities under the prevailing immoral view? Using the moral economy framework, this study examines the interviews conducted with investors and messages posted by well-known real estate influencers. It shows how property investors positioned themselves as responsible family members and self-disciplined citizens, drawing on moral economic sensibilities of ‘familism’ and new moralities of individual responsibility from neo-liberalism. This study also presents how investors refuse to be blamed for not ‘looking out for’ community and others by treating housing as a commodity and emphasizing themselves as sufferers. The paper argues that moral–economic principles are applied not only to disadvantaged people but also to the advantaged ones. Ultimately, implications for the housing system and policy in China are discussed.

Keywords:

• Housing
• property investment
• moral economy
• neo-liberalism

Acknowledgments

The author would like to thank her mentors for continuous encouragement and three anonymous referees for their helpful comments. The author also wants to thank her informants for their trust and hospitality.

Disclosure statement

No potential conflict of interest was reported by the author(s).