Helga Björg Kjerúlf

Housing is a fundamental human right. Today, however, it is increasingly treated as a financial asset rather than a place of safety and belonging. Reykjavík, like many cities, faces a deepening housing crisis, driven by speculation, rising demand, and economic policies that prioritise financial gain over social well-being. This thesis explores the speculative transformation of the House of Commerce, originally built in the 1970s as a monument to economic growth. It is reimagined here as the House of Commons, a case study in adaptive reuse, degrowth, and flexible design.

While new construction remains necessary to address the scale of the current shortage, this Load bearing walls project argues for a complementary approach: one that prioritises the reuse of existing structures and rethinks housing as a common good rather than a commodity. By shifting how dwellings are made, owned, and lived in, we can begin to shape a more inclusive and resilient urban future.

Grounded in frameworks such as Doughnut Economics, historical cooperative housing, and flexible architecture, the thesis challenges dominant models of urban development. It proposes an alternative vision, where growth is measured not in square metres or financial return, but in networks of care, participation, and shared ownership. The transformation of the House of Commerce into the House of Commons calls for a shift in priorities, away from speculative development and toward long-term adaptability, affordability, and collective well-being.Housing as commons for the common good.