The reforms driven by New Public Management (NPM) led to the introduction of management principles in local governments, marketisation and outsourcing. They made the greatest impact in the United Kingdom, but were also put in place in other European countries such as Ireland, Sweden, Germany, and – to the least degree – in France (compared to other countries discussed in this paper). There is a risk that NPM-inspired reforms may come to lose sight of the underlying social purpose of public services. NPM has not however become a new, universal model for public sector management. Issues tackled in the debate concerning the reform of public services have moved (mostly in the UK) beyond the concerns of NPM towards the emerging concept of networked community governance.
The article discusses the financialisation of housing while examining its economic, social, and political determinants as well as the consequences of its development. The conceptual perspective is not limited to the macroeconomic mechanisms of the process. The impact of marketisation and, consequently, the financialisation of housing was analysed in detail using the city of Gdańsk as an example. The mechanisms of financialisation in the neoliberal market economy and its impact on housing markets were discussed, as well as the financialisation of households through their inclusion in financial operations was considered. Additionally, the phenomena of touristification, studentification, and the increasing number of vacant dwellings were analysed as processes that transform urban spaces, which have a close relationship with the financialisation of housing markets. The importance of legal regulations and active housing policy in counteracting the negative effects of financialisation was pointed out.