In the UK, around 55% of householdsí net worth is in housing. More than 70% of households in the UK own a house and holding such a large amount of undiversified real asset poses risk. It is not always that a house would appreciate in value, though a housing investment has been recognised as a...

The period of study, from 2000 to 2010, was a decade of turbulence in the American residential real estate market. The time period witnessed a sharp increase in property prices from 2000 to 2006 followed by a sharp decline after the 2007 sub-prime crisis in most markets in the US. The objective...

Initial downpayment for home ownership could prove to be a binding constraint for households aspiring to be homeowners. Households in Japan require 30 to 45% of the house value as downpayment. This not only affects their decision on the timing of homeownership but also has significant influence...

Urban India has around 3000 urban local bodies (ULBs). The Seventy Fourth Constitutional Amendment Act (1992) has bestowed political power, administrative authority and functional autonomy on local bodies. The functional domain of ULBs now covers planning, regulation and development aspects....

Mortgage termination due to prepayment or default is an important issue in pricing of mortgage and mortgage-backed securities (MBS) due to its stochastic nature. In developing countries where MBS is not yet fully developed, mortgage termination affects the flow of funds to the lenders. Recent...

Households, during their lifecycle, make important decisions regarding their housing consumption. Lifecycle consumption theory suggests that these choices in relation to tenure, size and location of the dwelling unit are made in response to the lifetime wealth maximization by households...

ERES:conference

In a previous paper (Taltavull and White, 2012) we analysed the role of money supply, migration and mortgage finance in house price evolution. Using a VECM framework we examined these variables together with income, inflation, and interest rates for both Spain and the UK. This followed on from...

The classic property market boom and bust is conceptualised as a short term adjustment process generated by the interaction of occupation demand, the business cycle, the national credit cycle and supply lags consequent on the development cycle. An alternative perspective views the process...

This paper seeks to examine the changes in regional commercial property markets over the last 30 years. This period has seen substantial change in industrial structure as comparative advantage has shifted internationally. User requirements reflecting these changes have redefined office, retail...