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Financial processes play an increasing role in where and how households (and which households) can secure their housing. Our research showed how Hungarian housing processes are interrelated with global financial trends, which socio-spatial inequalities are inherent to housing loans, how household debt is created, as well as which role new institutional actors (such as claims management companies) play in the current housing crisis. Our public policy proposals outline ways to decrease households’ vulnerability to global financial processes. We have presented papers, have taken part in public debates and have produced audiovisual content about the interrelations of finance and housing.


Catalytic Capital Investment as an Enabler of Affordable Rental and Cooperative Housing in Central and South-Eastern Europe – Full Research Report

2022. Pósfai Zs., Jelinek Cs., Dević, S., Tomasević, A., Pavlović, I.

Catalytic Capital Investment as an Enabler of Affordable Rental and Cooperative Housing in Central and South-Eastern Europe – Investor Report

2022. Pósfai Zs., Jelinek Cs., Dević, S., Tomasević, A., Pavlović, I.

Polarization of the Hungarian Housing Market. Financing Housing in Dependent Economies [Polarizáció a magyar lakáspiacon. Lakásfinanszírozás függő gazdasági helyzetben]

2020. Zsuzsanna Pósfai. Budapest: Periféria Working Papers 4.

Household Debt on the Peripheries of Europe

2020. Bródy, Luca Sára and Zsuzsanna  Pósfai. Budapest: Periféria Working Papers 3

The Indebtedness of Households in Hungary [A háztartások eladósodása Magyarországon]

2020. Bródy, Luca Sára, and Zsuzsanna Pósfai. Budapest: Periféria Working Papers 2

Rental Housing Cooperative Model in Hungary [Bérlői lakásszövetkezeti modell Magyarországon]

2020. Jelinek, Csaba, and Zsuzsanna Pósfai. Budapest: Periféria Working Papers 1

The Financialization of Housing and its Effects on Households [A lakhatás financializációja és ennek következményei a háztartásokra]

2019. Pósfai, Zsuzsanna. Budapest: Demnet Foundation

public lectures

Housing Crisis and Activism: Perspectives from Athens, Budapest, Cape Town and Istanbul

May 14, 2022. Pósfai, Zsuzsanna. Istanbul. MADacademy Meetings

Financialization and horizons for transnational housing organizing after the Berlin referendum

November 6, 2021. Pósfai, Zsuzsanna. Online. ELMO

MOBA Housing Network: Building finance for cooperative housing in Eastern Europe

March 10, 2021. Pósfai, Zsuzsanna. Periferia Center, Center for Solidarity Economy [Szolidáris Gazdaság Központ]

Housing Crisis and Renters' Self-Organization [Lakhatási válság és bérlői önszerveződés]

May 1, 2020. Pósfai, Zsuzsanna. Forum for Trade Union Cooperation [Szakszervezetek Együttműködési Fóruma]

A Response from Housing Cooperatives for Social Care Crisis [A lakásszövetkezetek válasza a gondoskodási válságra]

March 5, 2020. Pósfai, Zsuzsanna. Budapest: Friedrich Ebert Stiftung - Equal Care in East-Central Europe.

Building an alternative housing model from scratch in Budapest

November 5, 2018. Jelinek, Csaba. Prague: Akademické konferenční centrum. Organized by the Institute of Sociology of the Czech Academy of Sciences


Housing in Hungary: Debt and Degrowth

June 5, 2019. Czirfusz, Márton. Ljubljana: Citizens for Financial Justice - Let's Talk: Debt Meets Degrowth

Household debt on the peripheries of Europe: new constellations since 2008 [Háztartási adósság az európai perifériákon 2008 után]

November 22-23, 2019. Bródy, Luca and Zsuzsanna Pósfai. Budapest: Gólya Cooperative Bar

The indebtedness of households in Hungary [A háztartások eladósodása Magyarországon]

December 14, 2019. Bródy, Luca and Zsuzsanna  Pósfai. Budapest: Gólya Cooperative Bar


Semi-peripheral Financialization and Informal Household Solutions: Embedded Scales of Uneven Development in Hungarian Fringes

2021. Jelinek, Csaba, Zs. Pósfai, Á. Gagyi, and A. Vígvári

In: Mikus, Marek, Rodik, Petra (eds.) (2021) Households and Financialization in Europe: Mapping Variegated Patterns in Semi-Peripheries

Housing situation after the crisis. Financialization, uneven housing policies and households' survival strategies [Lakhatási helyzet a válság után. Financializációs folyamatok, kettészakadó lakáspolitikák és a háztartások túlélési stratégiái

2019. Gagyi, Á., Cs. Jelinek, Zs. Pósfai, and A. Vígvári

Fordulat 26, 199-224.

​Financialization and inequalities. The uneven development of the housing market on the eastern periphery of Europe.

2018. Pósfai, Zs., Z. Gál, and E. Nagy

In Fadda, S., Tridico, P. (eds.), Inequality and Uneven Development in the Post-Crisis World. London; New York: Routledge, 167-190.

Reproducing uneven development on the Hungarian housing market.

2018. Pósfai, Zs.

PhD dissertation, University of Szeged.

Crisis and the Reproduction of Core-Periphery Relations on the Hungarian Housing Market.

2017. Pósfai, Zs., and G. Nagy

European Spatial Research and Policy. 24(2), 17-38.


Housing finance beyond individual mortgages – Potential financial mechanisms for new forms of affordable housing in Eastern Europe

November 5, 2021. Pósfai, Zsuzsanna. Prague, CEFRES: Urban Movements and Local Politics in CEE Countries: Recent Developments and Conceptual Ambivalences 

Housing finance beyond individual mortgages - how to finance new forms of affordable housing in Eastern Europe?

September, 2021. Pósfai, Zsuzsanna. Online: ENHR

Dependent housing financialization in Hungary through the case of household debt

May 21, 2021. Czirfusz, Márton and Zsuzsanna Pósfai. Cluj: Thirty Years of Capitalist Transformations in Central and Eastern Europe: Inequalities and Social Resistance

The long wave of dependent housing financialization in Hungary, 1970s-2010s. Financialization and development in the Global South

November 26-28, 2019. Czirfusz, Márton, Csaba Jelinek, Zsuzsanna Pósfai, and Linda Szabó. Buenos Aires: Financialization in the Global South

Seemingly New Directions of Housing Policies after the Financial Crisis

September 27, 2019. Pósfai, Zsuzsanna. Budapest: Metropolitan Research Institute 30 - Urban and Housing Systems Under Pressure: Varieties of Responses

A new wave of rental-based housing cooperatives in Eastern Europe? – The experience of the MOBA network.

August 28, 2019. Jelinek, Csaba and Zsuzsanna Pósfai. Athens: European Network of Housing Research.

Household debts from housing perspective [Háztartási adósság lakhatási szempontból]

November 19, 2018. Pósfai, Zsuzsanna. Budapest: MAKISZ - National Debt Management Conference and Workshop

The financialization of housing in the semi-periphery

July 20-22, 2018. Budapest: Central European University (CEU).  Organized in cooperation with CEU, Department of Sociology and Social Anthropology. 

press appearances

Black Box East: Why Is the 2008 Debt and Housing Crisis Still Not Over?

November 15, 2021. Mediapart.

Can profit logic be substituted by mutual assistance in housing? Housing cooperatives in Eastern Europe [Felválthatja a profitelvet a kölcsönös segítség a lakhatásban? Lakásszövetkezetek Kelet-Európában]

March 25, 2021. Mérce.

People pushed towards mortgages without providing relief for many [Lakáshitelbe tolják az embereket, pedig ez sokaknak nem jelent megoldást]

November 21, 2020. G7 podcast

Indebted households [Eladósodó háztartások]

September 3, 2020. Klub Rádió - Bonyolult dolgok

Mounting debts expected after pandemic [A járvány után újra komoly bajok lesznek az adóssággal]

May 29, 2020. Index - Hol a pénz? podcast,