Purpose: Homeownership has been the main focus of housing policies in most countries. Typical means that households use to achieve homeownership is to take out a loan and supplement this with accumulated wealth for a downpayment. This paper aims to analyze the mortgage demand behavior of...

Purpose – The purpose of this paper is to investigate the housing improvement expenditure as a consumption smoothing strategy for Japanese households. Design/methodology/approach – Tobit estimation method is used to empirically investigate the role of home improvement expenditure in...