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The hypothesis of a trade-off between homeownership and welfare state provision, first proposed by Jim Kemeny around 1980, is a foundational claim in the political economy of housing. However, the evidence for this hypothesis is unclear at both macro and micro levels. This paper examines the link between welfare and homeownership at the macro level using new long-run data and a multilevel modelling approach. It shows that the negative crosssectional correlation between homeownership and publicdoi:10.1080/01402382.2019.1609285 fatcat:hvuivarhtzdezhwahcvhuhytxm