"We show that the hedging benefit of owning a home reduces the variability of housing consumption after a move. When a current home owner's house price covaries positively with housing costs in a future city, changes in the future cost of housing are offset by commensurate changes in wealth...

"We examine the costs associated with funerals and the effects of funeral spending on household functioning, using data collected in the Agincourt Demographic Surveillance Site in South Africa. We find that large outlays of money at the time of the funeral leave households vulnerable to future...