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Some commentators have argued that the housing crisis may harm labor markets because homeowners who owe more than their homes are worth are less likely to move to places that have productive job opportunities. I show that, in the available data, negative equity does not make homeowners less...
Persistent link: https://www.econbiz.de/10012461956
We estimate the level and distribution of global household wealth. The levels of assets and debts for 39 countries are …-financial assets, and liabilities are studied empirically, and the results used to estimate average wealth holdings for countries … lacking direct evidence. Data on the pattern of household distribution of wealth are assembled for 20 countries, which …
Persistent link: https://www.econbiz.de/10012463141
This paper documents the trends in the life-cycle profiles of net worth and housing equity between 1983 and 2004. The net worth of older households significantly increased during the housing boom of recent years. However, net worth grew by more than housing equity, in part because other assets...
Persistent link: https://www.econbiz.de/10012464953
This paper describes the real wealth accumulation of American youth and relates this behavior to variations in real … price have two offsetting effects on wealth. First, the greater the local constant-quality price of housing, the greater the … wealth needed to meet the lender imposed down payment constraint if housing demand is price inelastic. However, increased …
Persistent link: https://www.econbiz.de/10012473216
wealth. Moving is often associated with retirement and with precipitating shocks like the death of a spouse or by other … changes in marital status. Median housing wealth increases as the elderly age. Even when the elderly move, housing equity is … transaction cost associated with moving is apparently not the cause for the lack of the reduction in housing wealth as the elderly …
Persistent link: https://www.econbiz.de/10012476744
highest for older households and households with low income, education, housing wealth, and financial wealth, making it the …
Persistent link: https://www.econbiz.de/10012457282
The wealthy hand-to-mouth are households who hold little or no liquid wealth (cash, checking, and savings accounts …
Persistent link: https://www.econbiz.de/10012458591
students. Our findings indicate a $10,000 increase in a family's housing wealth in the four years prior to a student becoming … wealth on where students apply, not on whether they are admitted. We also find that short-run increases in home prices lead …
Persistent link: https://www.econbiz.de/10012460584
This paper examines whether an individual-level transfer of property rights increases the individual's bargaining power within the household. The question is analyzed in the context of a housing reform that occurred in China that gave existing tenants the opportunity to purchase the homes that...
Persistent link: https://www.econbiz.de/10012459233
, increased wealth in the rich country can stunt investment in the poor country …
Persistent link: https://www.econbiz.de/10012476167