Using models from the happiness and the behavioural economics literature, we develop an analytical framework to investigate the relationship between housing wealth and residential satisfaction. Two hypotheses, i.e., social comparison and adaptation, are tested by using household panel survey...

Wealth is distributed more unevenly than income, and one contributing factor might be that richer households earn higher portfolio returns. I uncover one channel that causes portfolio returns to be increasing in wealth: Poorer households consistently buy risky assets in booms-when expected...

This paper shows that declines in interest rates cause middle-priced neighborhoods to experience large increases in house prices, while high- and low-priced neighborhoods experience no changes. These effects are linked to a transmission channel that stems from the dependence of mortgage payments...

Two things have happened to the wealth of American households since the Great Recession started in 2007. First, the distribution became much more unequal; second, the wealth of the typical family dropped sharply, and, at least through 2016, did not recover. These changes are largely due to the...

After almost a decade of increasing inequality during the Great Recession and its aftermath (as documented in previous RIHA report, The Distribution of Wealth Since the Great Recession, covering 2007-2016), the distribution of wealth in the United States became somewhat more equal between 2016...

The rate of homeownership is close to the OECD average in Luxembourg. However, strong house price increases, mainly driven by population growth and limited housing supply, led to a deterioration in affordability of housing, in particular for the young and added to the wealth gap between...

Prior Literature has shown that Blacks have lower rates of home ownership, lower amounts of home equity, and experience lower housing appreciation than whites. This paper examines racial differences in the returns to home ownership using a longitudinal survey of middle-aged homeowners. We find...

Wealth is distributed more unevenly than income, and one contributing factor might be that richer households earn higher portfolio returns. I uncover one channel that causes portfolio returns to be increasing in wealth: Poorer households consistently buy risky assets in booms—when expected...

Welfare-oriented analyses of economic outcome measures such as income and wealth generally rest on the assumption of pooled and equally shared resources among all household members. Yet the lack of individual-level data hampers the distribution of income and wealth within the household context....

Closely following recent innovations in the literature on the multidimensional measurement of poverty, this paper provides similar measures for the top of the distribution using a dual cutoff method to identify individuals, who can be considered as rich in a multidimensional setting. We use this...