-based housing market model, calibrated using U.K. household survey data. We apply different Loan-to-Value (LTV) caps for different … caps affect household debt, wealth inequality and consumption volatility differently, mediated by changes in the housing … household debt, wealth inequality and consumption volatility. The households' consumption function, in the model, incorporates a …

homeownership, taking an average four years to do so. Despite massive stimulus and debt relief policies, recovery was slow and … affecting the pass-through of lower interest rates and debt relief to households including mortgage contract rigidity … based on our estimates suggest that, regardless of the narratives of the causes of housing boom and bust, alleviating these …