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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/10012788697
from the 1984 and 1989 waves of the PSID to construct changes in real household wealth as a measure of household saving …This paper examines the empirical link between house price appreciation and the savings behavior of home owners during … the 1980s. The analysis uses household asset and debt data for a sample of under age sixty-five home owning households …
Persistent link: https://www.econbiz.de/10012763725
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/10012756067
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/10013036912
The wealthy hand-to-mouth are households who hold little or no liquid wealth (cash, checking, and savings accounts … accounts). We use survey data on household portfolios for the U.S., Canada, Australia, the U.K., Germany, France, Italy, and …
Persistent link: https://www.econbiz.de/10013054868
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/10013131307
We estimate the level and distribution of global household wealth. The levels of assets and debts for 39 countries are … lacking direct evidence. Data on the pattern of household distribution of wealth are assembled for 20 countries, which … measured using household balance sheet and survey data centred on the year 2000. The determinants of mean financial assets, non …
Persistent link: https://www.econbiz.de/10013154573
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/10012755273
test whether families spend their housing capital gains, I use housing, income, and consumption data from the Panel Study … of Income Dynamics. While a cross-section time-series regression implies that housing wealth does affect saving, a fixed …
Persistent link: https://www.econbiz.de/10013234379
is no pure wealth effect on consumption from a change in house prices if this represents a change in fundamental value …. There is a pure wealth effect on consumption from a change in house prices if this reflects a change in the speculative …A fall in house prices due to a change in fundamental value redistributes wealth from those long housing (for whom the …
Persistent link: https://www.econbiz.de/10012758559