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We quantify the housing-consumption channel in mortgage demand according to which households borrow more following house-price increases since housing and non-housing consumption are imperfect substitutes. To identify this channel, we take a structural approach to mortgage demand and supply,...
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. -- household wealth ; housing subsidy scheme ; house price …As significant part of national wealth, households' wealth is the central issue in both policy debate and academic … literature. Nevertheless, in Hungary little effort has been made so far to conduct thorough evaluation of households' wealth for …
Persistent link: https://www.econbiz.de/10003604923
Labor-supply effects of changes in house value are potentially important but empirically neglected. Using the panel Health and Retirement Study merged to local house prices from the Federal Housing Finance Agency, we estimate the effect of house-price changes on actual and planned retirement...
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wealth. Moving is often associated with retirement and with precipitating shocks like the death of a spouse or by other … changes in marital status. Median housing wealth increases as the elderly age. Even when the elderly move, housing equity is … transaction cost associated with moving is apparently not the cause for the lack of the reduction in housing wealth as the elderly …
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This paper examines how family housing wealth affects homeownership transitions during divergent periods of credit …, larger transfer amounts, and an increased likelihood of transitioning to homeownership during the housing bust, but not … affected by local housing market fluctuations during the housing bust. Overall, my findings suggest that family wealth matters …
Persistent link: https://www.econbiz.de/10012852352