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Housing Price Volatility and Downsizing in Later Life
Banks, James W. - 2015
In this paper, we modeled several types of housing transitions of the elderly in two countries -- Britain and the United States. One important form of these transitions involves downsizing of housing consumption, the importance of which among older households is still debated. This downsizing...
Persistent link: https://www.econbiz.de/10012750320
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Nudging Retirement Savings : A Field Experiment on Supplemental Plans
Clark, Robert L. - 2017
Although supplemental saving plans can be an important part of an individual's financial security in retirement, contribution rates remain low, particularly among those with lower salaries and less education. We report findings from a field experiment that distributed an informational nudge...
Persistent link: https://www.econbiz.de/10012949441
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Owner-Occupied Housing as a Hedge Against Rent Risk
Sinai, Todd M. - 2012
in house values. However, homeownership also provides a hedge against fluctuations in future rent payments. This paper … households so housing market risk actually increases homeownership rates and house prices. Further, the net effect of rent risk … on the demand for homeownership increases with a household's expected length of stay in its home, as the cumulative rent …
Persistent link: https://www.econbiz.de/10012755861
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Healthy, Wealthy, and Knowing Where to Live : Predicted Trajectories of Health, Wealth and Living Arrangements Among the Oldest Old
Heiss, Florian; Hurd, Michael D.; Börsch-Supan, Axel H. - 2022
Health, wealth and where one lives are important, if not the three most important material living conditions. There are many mechanisms that suggest that living arrangements and well-being derived from health and economic status are closely related. This paper investigates the joint evolution of...
Persistent link: https://www.econbiz.de/10014075859
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Does Home Owning Smooth the Variability of Future Housing Consumption?
Paciorek, Andrew - 2010
We show that the hedging benefit of owning a home reduces the variability of housing consumption after a move. When a current home owner's house price covaries positively with housing costs in a future city, changes in the future cost of housing are offset by commensurate changes in wealth...
Persistent link: https://www.econbiz.de/10013135884
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Repairing a Mortgage Crisis : Holc Lending and its Impact on Local Housing Markets
Courtemanche, Charles - 2010
increased 1940 median home values and homeownership rates, but not new home building …
Persistent link: https://www.econbiz.de/10013139741
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What Have They Been Thinking? Home Buyer Behavior in Hot and Cold Markets
Case, Karl E. - 2012
Questionnaire surveys undertaken in 1988 and annually from 2003 through 2014 of recent homebuyers in each of four U.S. metropolitan areas shed light on their expectations and reasons for buying during the recent housing boom and subsequent collapse. They also provide insight into the reasons for...
Persistent link: https://www.econbiz.de/10013100364
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The Home Front : Rent Control and the Rapid Wartime Increase in Home Ownership
Fetter, Daniel - 2013
The US home ownership rate rose by 10 percentage points between 1940 and 1945, about half the size of the net change over the 20th century, despite severe restrictions on construction during World War II. I present evidence that wartime rent control played an important role in this shift. The...
Persistent link: https://www.econbiz.de/10013073552
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The Effect of Housing on Portfolio Choice
Chetty, Raj - 2015
Economic theory predicts that home ownership should have a negative effect on risk-taking in financial portfolios. However, empirical work has not found a strong relationship between housing and portfolios. We identify two reasons for the divergence between the theory and data. First, it is...
Persistent link: https://www.econbiz.de/10013038822
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Can Owning a Home Hedge the Risk of Moving?
Sinai, Todd M. - 2010
Conventional wisdom holds that one of the riskiest aspects of owning a house is the uncertainty surrounding its sale price, especially if one moves to another housing market. However, households who sell a house typically buy another house, whose purchase price is also uncertain. We show that...
Persistent link: https://www.econbiz.de/10013150431