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Dynamic housing expenditures and household welfare
Blow, Laura; Nesheim, Lars - 2009
In this paper we develop a measure of current "expenditures" on housing services for owner-occupiers. Having such a measure is important for measuring the relative welfare of households, especially when comparing renters and owners and for measuring inflation. From a theoretical perspective...
Persistent link: https://www.econbiz.de/10003817248
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Rushing into American dream? : house prices, timing of homeownership, and adjustment of consumer credit
Agarwal, Sumit; Hu, Luojia; Huang, Xing - 2013
homeownership as a function of credit constraints and expectations of future house price. Our panel data allows us to track …
Persistent link: https://www.econbiz.de/10010211024
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Housing choices and labor income risk
Jansson, Thomas - 2013
I show that individuals whose unemployment risk tends to increase more when local home prices fall optimally invest less in owner-occupied housing. Using a unique, Swedish register-based database, I find that a one standard deviation increase in the covariance between individually estimated...
Persistent link: https://www.econbiz.de/10010203021
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Shifting confidence in homeownership : the great recession
Bracha, Anat; Jamison, Julian C. - 2012 - This version: June 26, 2012
attitudes of individual consumers. They find that younger respondents are relatively less confident about homeownership after …
Persistent link: https://www.econbiz.de/10009564354
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Borrowing Constraints and Homeownership
Acolin, Arthur - 2016
This paper discusses findings relative to the impact of borrowing constraints on homeownership in the U.S. in the … aftermath of the 2008 financial crisis. While homeownership declines and tightened credit are evident, the role the tightening …. The homeownership rate in 2010-2013 is simulated to be 2.3 percentage points lower than if the constraints were set at the …
Persistent link: https://www.econbiz.de/10013000693
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Financial and Housing Wealth, Expenditures and the Dividend to Ownership
Guo, Sheng - 2016
For a household, home ownership provides necessary shelter, potential investment returns associated with property appreciation and a hedge against increased housing related cash outlays. In addition to potential appreciation, individual households benefit over time from a housing dividend...
Persistent link: https://www.econbiz.de/10013000970
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House Prices, Home Equity-Based Borrowing, and the U.S. Household Leverage Crisis
Mian, Atif R. - 2010
Using individual-level data on homeowner debt and defaults from 1997 to 2008, we show that borrowing against the increase in home equity by existing homeowners is responsible for a significant fraction of both the rise in U.S. household leverage from 2002 to 2006 and the increase in defaults...
Persistent link: https://www.econbiz.de/10013152833
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Seniors’ Home Equity Extraction : Credit Constraints and Borrowing Channels
Moulton, Stephanie - 2019
Households borrow against home equity through different types of mortgages: closed end home equity loans or revolving lines of credit, cash-out refinancing, and—for senior homeowners—reverse mortgages. The objective of this study is to identify how borrowing constraints and the lending...
Persistent link: https://www.econbiz.de/10012903634
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Identifying the Benefits from Home Ownership : A Swedish Experiment
Sodini, Paolo - 2017
Home ownership is widely stimulated by policy yet its effects are poorly understood. Exploiting privatization decisions of municipally-owned apartment buildings, we obtain random variation in home ownership for otherwise similar buildings with similar tenants. Granular data on demographics,...
Persistent link: https://www.econbiz.de/10012969184
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Rushing into the American Dream? House Prices Growth and the Timing of Homeownership
Agarwal, Sumit - 2016
timing of homeownership. We find that the median individual in metropolitan areas with the highest quartile house price …
Persistent link: https://www.econbiz.de/10013006927