Changing Housing Wealth in the UK, 1985-1993: Household Patterns and Consequences.

There is likely to be considerable cross- and within-region variation in housing wealth. This paper examines how housing wealth has varied in the United Kingdom over the boom and bust period of 1983-93. It also analyzes, for the period 1989-93, the relationship between housing wealth, household spending and labor market moves for individual households. The paper highlights the need to consider these important linkages in macroeconomic policy analysis. Housing arrangements in the United Kingdom still have the capacity to add instability in the economy should there be macro-shocks to employment and interest rates. Copyright 1998 by Scottish Economic Society.