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Purpose: The purpose of this study is to use a lifetime income measure to evaluate the long-run housing affordability for an understudied cohort of households in the literature – the millennials. The authors do this in the context of Malaysia, measuring long-run affordability for four housing types across geographic locations and income distributions. Design/methodology/approach: This study calculates a long-run housing affordability index (HAI) using data on house prices and household incomes. Essentially a ratio of predicted lifetime incomes to house prices, the HAI is computed for four common housing types in Malaysia from 2005 to 2016 and for six states in the country. The HAI is also compared across four income percentiles. Findings: The analysis reveals varying patterns of housing affordability among different states in Malaysia. Housing affordability has declined since 2010, with most housing types being unaffordable for millennial-led households with the lowest income. Housing is most affordable for those in the highest income bracket, although even here, there are pockets of unaffordable housing as well. Practical implications: Based on the findings, this study proposes three targeted interventions to improve housing affordability for Malaysian millennials. Originality/value: This study fills a gap in the literature by examining the long-run housing affordability of Malaysian millennial-led households based on both geographic location and income distribution. The millennial population is understudied in the housing affordability literature, making this study a valuable contribution to the field. [ABSTRACT FROM AUTHOR]

"The Colonizing Self: Or, Home and Homelessness in Israel/Palestine" by Hagar Kotef is a book that explores the concept of 'home' within the context of Israel/Palestine. The author analyzes the historical legacy of a colonial 'planning' system and calls for the decolonization of settler colonial space. The book focuses on the role of the settler in displacing Palestinians from their homes and examines the narratives and justifications used by Israeli settlers. It also draws connections to settler colonialism and violence in other parts of the world. The text emphasizes the need for uncomfortable conversations about race, place, and home within the planning discipline and the importance of decolonizing thinking for a more just future. [Extracted from the article]

Home-ownership may create both positive and negative externalities. As an example of a negative externality, the so-called Oswald hypothesis suggests that a high home-ownership rate creates frictions in the economy and thus increases the unemployment rate. We approach this hypothesis from a novel perspective by taking into account regional differences in population density and dwelling composition. Using municipality-level panel data, we find that although the phenomenon identified by the Oswald hypothesis may not be omnipresent, it may manifest itself, particularly in semi-urban areas where the share of large ownership dwellings is high. We also find that in-migration to these areas is lower, which is consistent with the view that the home-ownership rate may affect migration flows and, thus, economic dynamics. [ABSTRACT FROM AUTHOR]

'Homeless' people are usually considered as citizens without property. The absence of ownership, especially in terms of housing, co-creates the very idea of homelessness in current societies. Despite this fact, 'homeless' citizens negotiate and experience their property, things, or the shelter in which they dwell. This paper sheds light on how this property is negotiated and experienced and how it influences home-making. It does so by drawing on long-term ethnographic research in the city of Pilsen, a second-order city in Czechia. Based on the intra-urban comparison of informal dwelling in two abandoned buildings – a former railway station tower and an allotment cottage – the paper conceptualize the unspotted home and argues that it arises from the assemblage of socio-materiality, meanings, and various dimensions of politics, where the politics of home-ownership has an important position. While informal ownership here is related to power asymmetry within home-making, paradoxically, it also brings about more complex informal citizenship and the potential for political action. [ABSTRACT FROM AUTHOR]

Postponement of first birth has implications for the health and well-being of women and is often associated with lower fertility levels, a demographic reality affecting most high-income countries. Country-level institutional differences are one factor behind the variation in fertility in these countries. This paper examines the relationship between housing and mean age at first birth across 39 low-fertility countries. Using newly compiled indicators of multiple dimensions of the housing context we explore housing from the perspective of renters and homebuyers and examine differences for former-communist and non-former-communist countries. We use six indicators of the housing context and combine them into three different indexes: renter support index, homebuyer support index, and a combined index of both dimensions. Analyses show that access to housing is associated with age at first birth, but that this relationship has changed over time and is different for former-communist and non-former-communist countries. Findings support theories that expectations regarding the importance of homeownership for family formation are changing. [ABSTRACT FROM AUTHOR]

Home equity represents a substantial share of retirement wealth for many older persons, particularly in Asia where national housing policies have encouraged home-ownership. This paper explored the potential for reverse mortgages to help 'asset-rich and cash-poor' older Singaporeans unlock their home equity while ageing in place. The empirical analysis was based on a nationally representative survey of home-owners age 50+ in the 2018 Singapore Life Panel (N = 6,258). Our analyses showed that the average older home-owner holds some 60 per cent of total net wealth in housing equity, suggestive of high demand potential for reverse mortgage products. Nevertheless, actual interest in such products was much below potential demand. Only one in four older home-owners indicated interest in commercial reverse mortgages if these were to become available; a larger majority had never heard of the financial product. Interest in reverse mortgages was positively associated with product awareness and self-rated product understanding. This implies that a critical step towards building consumer interest would be to enhance awareness of such products and simplify related contract terms. Having a mortgage, fewer children, financial literacy and preparedness for retirement were also positively associated with interest level. These results have implications for targeted interventions to enhance consumer awareness and spur interest in reverse mortgages, especially in ageing societies where older people have built up substantial equity through the housing market over time. [ABSTRACT FROM AUTHOR]

Some recent anthropological accounts of middle classes centred on their indebted home-ownership. They stressed its two contrastive logics fitting a wider binary – exposing 'squeezed' middle classes in the global North to increasing risks, and supporting the ascent of their 'new' counterparts in the South. The genealogy of middle-class housing debt in Croatia presented in this article reveals another, post-socialist trajectory where mundane and opaque institutional practices regulating access to housing finance, such as bank credit scoring and the allocation of state housing benefits, were key in steering a middle class inherited from socialism towards mortgaged home-ownership. The latter was articulated as a middle-class experience only after the 2000s credit boom had come to an end and the consequences of rampant predatory lending became visible and subject to contestation. The resulting middle-class subjectivities are ambiguous and, as comparisons with other Eastern European cases suggest, accessible for a range of political projects. [ABSTRACT FROM AUTHOR]

The novel application of a pairwise autoregressive distributed lag (ARDL) approach provides new insights into the regional wage–unemployment rate relationship. Using this approach, the short- and long-run wage curve slope for each US state is potentially inversely related to the unemployment rate in all other states. In terms of the oft-cited Blanchflower and Oswald elasticity, there is mixed evidence in support of a - 0.1 wage curve slope. We find that the pairwise wage curve slope is driven by factors that include state-level home-ownership and education attainment. Our findings suggest that short-run wage flexibility decreased during the period following the Great Recession. [ABSTRACT FROM AUTHOR]

Finally, after a lengthy hiatus, the empirical facts of economic inequality need no introduction. In a blaze of publicity during a decade or more, the re-polarization of income and wealth across nearly half a century has been widely documented and is substantially uncontested. There is debate on whether incomes have peaked, no doubt that capital is back, and a great deal of speculation on what might happen next. What is surprising is the limited attention afforded to the pivotal role of housing. To address that gap, conceptually and empirically, this paper draws from panel surveys in three countries across two decades to locate residential property generally, and owner-occupation in particular, within a wider literature on the shape of economic inequality in the long run. [ABSTRACT FROM AUTHOR]

This paper analyses the contribution of age and cohort effects on home-ownership and housing wealth in Turkey. I construct a pseudo-panel data set based on birth-year cohorts by using sixteen waves of the Turkish Statistical Institute Household Budget Surveys from 2003 to 2018. The empirical analysis reveals that young cohorts are less likely to own their homes, but they are more likely to have outstanding housing debt. Moreover, they are as willing to invest in second homes as older cohorts. I estimate a Heckman two-step selection model to distinguish the contribution of the improvement in the quality of new buildings to home values. As a result, I find that cohort effects on home values are significantly larger for young households even after controlling for age effects and the improvement in the quality of new buildings. Thus, the empirical findings show that young cohorts have a stronger housing demand than old cohorts. [ABSTRACT FROM AUTHOR]

In this paper, we analyze the role of culture in determining whether, or not, an individual is a homeowner. We use data on first‐generation immigrants who arrived in the United States under 6 years old. Following the epidemiological approach, any dissimilarity in the proportion of homeowners by country of origin may be interpreted as a consequence of cultural differences. Our estimates indicate that there is a positive and statistically significant relationship between the cultural proxy and the immigrants' choice of home‐ownership. Additionally, we present evidence of different mechanisms of transmission of culture, which reinforces our results on the cultural effect. [ABSTRACT FROM AUTHOR]

Copyright of Revista Internacional de Sociología is the property of Consejo Superior de Investigaciones Cientificas and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The study investigated housing tenure as a factor moderating the effects of loneliness and socio-economic status (SES) on quality of life (control and autonomy, pleasure, and self-realisation) over a two-year period for older adults. Data from the 2010 and 2012 waves of the New Zealand Health, Work, and Retirement Study were analysed. Using case-control matching, for each tenant (N = 332) we selected a home-owner (N = 332) of the same age, gender, ethnicity, SES, working status and urban/rural residence. Structural equation modelling was employed to examine the impact of SES, housing tenure and loneliness on quality of life over time. Emotional loneliness exerted a significant negative main effect on control and autonomy and pleasure. Tenure and SES influenced control and autonomy, but not pleasure or self-realisation. Tenure moderated the effect of emotional loneliness on control and autonomy, with the negative effect of emotional loneliness weaker for home-owners compared to renters. Tenure moderated the effect of SES on control and autonomy, with the positive impact of SES stronger for home-owners. Findings suggest that owners capitalise on their material and financial resources more than tenants in terms of their quality of life. In addition, home-ownership can act as a protective factor against the harmful effects of emotional loneliness in old age. [ABSTRACT FROM AUTHOR]

The rate of home-ownership has increased significantly in many countries over the past decades. One motivating factor for this increase has been the creation of wealth through the accumulation of housing equity, which also forms the basic tenet of the asset-based welfare system. In generating the home equity, house price developments play an important role. Generally, house prices show an increasing trend over long time period, however, there are short-term negative appreciations that may have inherent risks for the housing equity. Following the 2007-08 Global Financial Crisis (GFC), for example, the collapse of house prices has caused many recent home buyers to run into negative equity. Some housing researchers and experts have suggested that a better understanding of the spatial diffusion mechanisms of house prices will aid resuscitating the housing market after the GFC. Others also advocated adopting insurance schemes to protect the home equity that yields the welfare benefits. Unfortunately, however, little research insight exists on the Dutch house price diffusion process, although there are empirical results for countries such as the UK, US and China, where the contexts differ from the Netherlands. Furthermore, the current existing home-value insurance scheme in the literature is found to be less efficient and eliminates only up to 50% of the house price risks. This dissertation covers important aspects of house price diffusion and risks in the Netherlands. The aim is to better understand the diffusion mechanism and the risks of house prices, while it also contributes to the measurement of these housing risks. More specifically, there are three objectives: first, to discover the diffusion mechanism of house prices in the Netherlands and the pattern particularly from the capital Amsterdam; second, to examine the spatial distribution of the house price risk; and third, to investigate the efficiency of the index-based home-value insurance for reducing the house price risk in the Dutch context. The diffusion mechanism relates to the so-called ripple or spillover effect, for which movements of house prices in one location temporarily or permanently spread over their influence to other regions. The risks analyses capture the probability of selling the residential property below the purchase price. The index-based home-value insurance scheme is concerned with the reduction of the house price risk, while its efficiency and loss coverage are analysed. The contributions of the dissertation are specifically elaborated in five chapters. The chapters are self-contained, four of them having been published separately in international journals and the other being currently under review. Chapter 2 is a literature study that presents the general trend and an overview of the risks in home-ownership. It particularly discusses the government mortgage guarantee and tax deduction, among other factors, which contribute to home-ownership in the Netherlands. Mortgage default risk and house price risk, which are the two important risks from the perspective of the home-owners are also discussed in the context of the Dutch market. Chapter 3 investigates the house price diffusion mechanism between the twelve provinces in the Netherlands. The methodology adopts a new Bayesian graphical approach which enables a data-driven identification of the important regions where the diffusion may predominantly emerge. Using quarterly house price indexes, the findings suggest that house price diffusion exists in the Netherlands with a pattern varying over the period of time. Focusing specifically on the period prior to the 2007-2008 Global Financial Crisis (GFC), the house price diffusion predominantly originated from Noord-Holland. House prices in Amsterdam – the capital and an important economic hub of the Netherlands, are more likely to diffuse to other parts of the country. Thus in Chapter 4, attention is paid to the house price diffusion pattern from the capital Amsterdam to the other Dutch regional housing markets. The Granger causality and cointegration techniques are used, while controlling for the important house price fundamentals. The results suggest a possible house price diffusion existing from Amsterdam to all regions in the Netherlands except for Zeeland. The strongest long-run impact of Amsterdam house price diffusion potentially occur in Utrecht. As one of the largest and most dynamic in the Netherlands, the Amsterdam housing market is itself an interesting case study. One part of Chapter 5, therefore, deals with the diffusion pattern by studying the spatial interrelationships between house prices in Amsterdam. The other part of the chapter studies the house price risks. Using the Granger causality test, a general causal flow of house prices is observed from the central business districts to the peripherals. Simple statistics similarly reveal that house prices grow faster and are more risky in the central business districts than those on the peripherals of the city. Chapter 6 is concerned with the efficiency and loss coverage of the index-based home-value insurance scheme. It proposes a modification of the index-based home-value insurances policy, which seeks to reduce the large idiosyncratic residual house price risks. The modification uses aggregate measures of the reference index. Using the hedonic and repeated sales indexes, the empirical analysis suggests the proposed modified scheme is highly efficient and may eliminate up to 70% of the residual risks. In general, the dissertation adopts innovative empirical methodological approach that combines standard statistical analyses and more recent and complex econometric modelling techniques in the study of the diffusion and risks of house prices in the Netherlands. The application of the graphical approach to the study of diffusions particularly in Chapter 3, is the first of its kind in the context of the housing market. Furthermore, this dissertation is among the first to entirely provide a comprehensive analysis and the much needed body of knowledge regarding the house price diffusion and risks for the highly regulated Dutch housing market. The results have important policy implications and applications for households, commercial investors and financial institutions in the Netherlands. The results may also generally apply and replicable in other countries and economies with similar housing market conditions.

A large number of studies have demonstrated that the proportion of home-owners in a region tend to be positively associated with the unemployment levels in that region. In this paper, we introduce a missing piece of explaining this commonly found pattern. By analysing individual-level population register data on Sweden, we jointly examine the effects of micro- and macro-level home-ownership on individuals' unemployment. The findings indicate that even though home-owners have a lower probability of being unemployed, there is a penalty for both renters and home-owners on unemployment in regions with high home-ownership rates. Differences in mobility patterns cannot explain this pattern. However, when labour market size is considered, the higher probability of unemployment in high home-owning regions is drastically reduced. This suggests that high home-ownership regions tend to coincide with small labour markets, affecting the job matching process negatively. [ABSTRACT FROM AUTHOR]

Much attention has been devoted to examining the absolute benefits of home-ownership (e.g. security and autonomy). This paper, by contrast, is concerned with conceptualising and testing the relative benefits of home-ownership; those benefits that depend on an individual’s status in society. Home-ownership has previously been analysed as a social norm, implying that the relative benefits (costs) associated with being an owner (renter) are positively related to relevant others’ home-ownership values. The theoretical contribution of this paper is to additionally conceptualise home-ownership as a positional good, implying that the status of both home-owners and renters is negatively related to relevant others’ home-ownership consumption.The empirical contribution of this paper is to quantitatively test for these relative benefits in terms of subjective wellbeing. We run fixed effects regressions on three waves of the British Household Panel Study. We find that (1) a strengthening of relevant others’ home-ownership values is associated with increases (decreases) in the subjective wellbeing of home-owners (renters), and (2) an increase in relevant others’ home-ownership consumption decreases the life satisfaction of owners but has no effect for renters. Overall our findings suggest that (1) the relative benefits of home-ownership are both statistically significant and of a meaningful magnitude, and (2) home-ownership is likely to be both a social norm and a positional good. Without explicitly recognising these relative benefits, policymakers risk overestimating the contribution of home-ownership to societal wellbeing. [ABSTRACT FROM AUTHOR]

Recent research has shown that divorce reduces the likelihood of home-ownership. Even in later life, ever-divorced men and women display lower home-ownership rates than their married counterparts. There is, however, a lack of knowledge about the consequences of divorce for a majority of divorcees: those who remain in home-ownership or move back into home-ownership after an episode in rental housing. This paper investigates the economic costs of divorce by focusing on the housing wealth of ever-divorced home-owners in later life (age 50 and over), against the background of changing welfare and housing regimes. The empirical analysis is based on data from ten European countries that participated in the third and fourth waves of the Survey of Health, Ageing and Retirement in Europe (SHARE 2007/8 and 2011/2). Our analyses support an association between divorce experience and lower housing wealth holdings for men and women who remain in home-ownership after a divorce, or re-enter home-ownership after a spell in rental housing. This means that a divorce has negative housing consequences for a broader range of individuals than thus far assumed. In countries with a dynamic housing market and a deregulated housing finance system, ever-divorced home-owners are worse off than their married counterparts. In these countries, more elderly individuals with a weaker financial situation are able to remain in or regain access to (mortgaged) home-ownership, but at the cost of lower housing equity. Further research should focus on the implications (e.g. for wellbeing, economic position) of such cross-country variations. [ABSTRACT FROM AUTHOR]

Copyright of Revista de Economía Aplicada is the property of Revista de Economia and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

The discourse on the meaning of home is largely centred on the Western experiences and perspectives, producing insights into the economic and psycho-social aspects of home, with less attention on the Eastern context. This paper explores the emotive meaning of home from the perspective of Malaysia, a nation of homeowners. Gurney’s view of home as an emotional “warehouse” framed this inquiry, supporting the notion of feelings associated with the dwelling being created, deposited and drawn by its occupants. This paper represents part of a larger housing study into an alternative housing tenure for Malaysia that argues that the sense of home can be independent of housing tenure. This paper reports the meaning of home as derived from 10 diarists who have been actively involved in creating the “home” and were therefore capable to describe the process of emotional appropriation of their lived space. Findings suggested that the process of assigning meaning to home was dependent on diarists’ feelings, perceptions, attachments and relations regarding their lived space. Diarists mainly associated their emotive construction of home with family-centred activities and space, which took place in both the micro-sense (within the dwelling) and the macro-sense (the neighbourhood). [ABSTRACT FROM PUBLISHER]

This article examines the trade-off between owned housing and old-age care in Slovenia where the population has been found outstandingly willing to enter residential care and also consume housing wealth for this purpose. To explain this peculiarity, a case study as a holistic in-depth analysis was conducted, combining multiple sources of quantitative survey data and qualitative interview-based insights and accounting for the institutional context and individual decisions. What was found was a modernised version of the traditional ‘inheritance for care’ exchange, whereby the inheritor partly finances the parent’s residential care. This family-mediated trade-off between old-age care and housing wealth was found to serve as an informal equity-release scheme which in Slovenia helps bridge the post-transitional old-age gap, the syndrome of low pensions, underdeveloped care services and owner-occupied housing un-adapted to seniors. Moreover, it is hypothesised that this structural gap is common to other post-transitional countries. [ABSTRACT FROM AUTHOR]

The aim of this paper is to illustrate how pension and housing systems together affect poverty among the elderly. We analyse Belgium, Germany, Ireland and the Netherlands, each with different combinations of pension and housing institutions. Using EU-SILC data for 2009, we distinguish between income-poverty and deprivation, the former to evaluate the performance of pension systems and the latter to judge how the impact of housing systems on income-poverty translates into deprivation. The focus is on risk groups such as the separated, the widowed, the former self-employed and retirees with short or irregular employment histories. The findings are that pensions, since they often exclude particular groups, such as households with less than 25 years of employment, increase the elderly income-poverty risk for those groups. The risk of being income-poor is somewhat alleviated in the case of a generous flat-rate public pension, but even then households with less than 25 years of employment have higher levels of income-poverty. Outright home-ownership provides households the opportunity to live rent-free and thus yields income-in-kind. Housing systems in which home-ownership is dominant often also have high levels of outright home-ownership among the income-poor elderly, compensating for the low income-in-cash that they receive as a pension, thus reducing deprivation. [ABSTRACT FROM AUTHOR]

This paper qualifies the role of home-ownership as an income complement for the elderly by taking the institutional context into account. We argue that a strategy of asset-based welfare focused on the promotion of home-ownership is not universally applicable, but depends on how housing and pension provision are organised. Based on the extent of commodification in housing and pensions, we distinguish four types of institutional contexts. We argue that, since relying on housing wealth as a pension essentially boils down to a market-based approach to welfare provision, this strategy is more likely to occur when both housing and pensions are largely commodified, which is only the case in the liberal welfare states. The conclusion of a trade-off between the rate of home-ownership and spending on pensions often referred to in prior work is unlikely to hold universally when differences between housing and pension provision across contexts are taken into account. [ABSTRACT FROM AUTHOR]

Based on fieldwork conducted in a small suburban garden city, built at the beginning of the 20th century in the Paris area, this study focuses on differentiation processes in suburban areas and most notably on one of its determinants, i.e. the way residents make existing buildings their own. The paper shows how quaint qualities of an old built-up area become attractive to middle-class households who wish to distinguish themselves from the suburban way of life. The ensuing residential choices thus trigger a renewal process in the area, a process whose stake is the preservation of the neighbourhood’s quaint character.

Home-ownership is transmitted between generations. Parental gifts form one of the mechanisms through which the intergenerational transmission of home-ownership takes place. Using the Netherlands Kinship Panel Study, we investigated the influence of parental and children's resources and other characteristics on financial support from parents to children. A major independent variable was parental home-ownership. As dependent variables, we distinguished between financial support towards buying a home, and financial support in the form of gifts of € 5,000 or more ever received. By making this distinction, we could test whether homeowner parents were particularly likely to help their children become homeowners rather than giving other types of financial help. The results did not indicate such specific gift-giving: parental home-ownership was just as important to other types of monetary support as to home-ownership support. However, the distance to the place where the adult child had grown up was negatively associated with receiving home-ownership support but not with receiving other financial transfers. [ABSTRACT FROM AUTHOR]

We study the interactions among geographical mobility, unemployment, and home-ownership in an economy with heterogeneous locations, endogenous construction, and search frictions in the markets for both labour and housing. The decision of home-owners to accept job offers from other cities depends on how quickly they can sell their houses (i.e. the houses' liquidity), which in turn depends on local labour market conditions. Consequently, home-owners accept job offers from other cities at a lower rate than do renters, generating a link between home-ownership and unemployment both at the city level and in the aggregate. When calibrated to match aggregate U.S. statistics on mobility, housing, and labour flows, the model predicts that the effect of home-ownership on aggregate unemployment is small. When unemployment is high, however, changes in the rate of home-ownership can have economically significant effects. [ABSTRACT FROM AUTHOR]

This article examines the role of advertisement and promotion in the successful development of nationwide building societies in interwar Britain and the rapid overall growth of the building society movement. Major building societies are shown to have used extensive advertising to compensate for their initial lack of established national brands, promote home-ownership, and make savers aware of the attractive earnings and high security of building society savings. During a period when most building societies had very limited branch networks, extensive advertising increased the public profile of the major societies and thus assisted their rapid expansion via lower-cost modes such as agency networks. [ABSTRACT FROM AUTHOR]

The paper addresses an important gap in the return-migration and housing literatures. Little is known about financial resources and assets used by Caribbean elders embarking on return. Even less is known about patterns of housing investment among those who have second homes. Previous work reveals that home-owners feature more prominently among this cohort than any other housing tenure, suggesting access to housing wealth is a significant financial resource alongside lifetime savings. The literature also suggests that, in addition to land purchased specifically for the purpose of a return, some returnees have access to inherited land in the island of origin. The paper argues that greater attention should be paid to the role of home-ownership status, housing wealth leakage into the Caribbean and land inheritance within return-migration planning for this group. Life-history accounts are drawn from a sample of Caribbean home-owners based in Birmingham and London at different stages of return-migration planning. The theoretical framework used to explore the risks and opportunities of return-migration planning locates the resources available to returnees within broader networks of financial, social and kinship networks. [ABSTRACT FROM AUTHOR]

Unsurprisingly, a great deal of attention has been paid to the economic consequences of the credit crunch. However, this paper shows that the credit crunch was preceded by a strong build-up of mortgage debt internationally, which, in the long run, could turn out to be more significant than the credit crunch itself. Indeed, the debt build-up suggests that the credit crunch is more likely to reoccur, because highly-indebted households have weaker buffers to withstand unexpected shocks to their incomes or to interest rates. The paper presents a model that can explain the debt build-up and changes to the distribution of debt between existing owners and first-time buyers, which hinders access to home-ownership for the latter, even amongst those households who would be considered as credit-worthy. [ABSTRACT FROM AUTHOR]

In this article, using policy documents and both qualitative and quantitative data sources, we evaluate the extent to which the Belgian welfare system conforms to trends towards asset-based welfare involving the promotion of home-ownership as an alternative to social security provision. We conclude that, following the explicit and ongoing sponsorship of home-ownership since the end of the 19th century, in Belgium, an asset-based approach to welfare has actually been in place for some time. Most Belgian elderly people are income-poor (mainly due to low public pensions) but asset-rich. While the risk of poverty for home-owners in old age is somewhat higher than that for the general population, it is much higher for elderly renters. As far as the preconditions for a possible restructuring of the Belgian welfare state in the direction of greater reliance on asset-based welfare are concerned, we find that most of them are fulfilled. Public debt is high with increasing costs of population ageing looming large on the economic horizon. However, although some politicians have raised the issue, so far, virtually no initiatives have been taken to tap into existing housing wealth. Our qualitative evidence shows that this can be partly explained by the fact that Belgians have a rather conservative attitude towards the welfare state, which is expected to provide adequately for ‘traditional’ life-course risks such as unemployment and old age. Housing is considered a private issue, separated from the social security sphere. [ABSTRACT FROM AUTHOR]

Spatial assimilation theory, the traditional framework for analysing urban immigration and housing, was deeply shaped by the historical-geographic contingencies of American urbanism in the 1950s and 1960s. Yet the most recent and forceful challenge to assimilationist research—transnational urbanism—is also influenced by distinctive contemporary circumstances and epistemological priorities, creating a tense and unproductive dichotomy. We contend that such apparently fundamental theoretical disputes are at least partially resolved through methodological pluralism. Understanding continuity and change in immigrant settlement and housing patterns requires that we draw on the distinct, complementary merits of transnational urbanist and spatial assimilation models—while also recognising the features of American urban development and race relations that create powerful incentives shaping the spatial trajectories of immigrant upward mobility. We evaluate these considerations through empirical case studies of the recent rise of home-ownership among Hmong immigrants in St Paul, Minnesota, and the interrelations between immigration and the intensified mortgage capitalisation of US housing markets. [ABSTRACT FROM AUTHOR]

The article discusses the study which identifies the shift in immigrant settlement that affects the rates of immigrant home-ownership in Canada. Researchers use the squares regression techniques and the 2001 Census of Canada to identify if the shift out of gateway census metropolitan areas (CMAs) improve the immigrant home-ownership rates in the country. It also evaluates if immigrants would be improved when encourage to settle outside the gateway cities.

The article provides information on a study on the age-at-arrival differences in home-ownership attainment among immigrants and their foreign-born offspring in Canada. It questions whether age-at-arrival has a significant role in home-ownership attainment. It discusses householders' self-identification as visible minority. It is stated that identifying generational groups based on age-at-arrival appears to be important. The findings of the study is supported with details on the interacting effects of current age and arrival cohorts. The findings indicate that a longitudinal approach is more appropriate for the study.

The transition from childhood and youth in the parental home to becoming an independent adult is a critical phase in life. Much is determined in this period, with far-reaching consequences, including where the young person will end up in the social stratification system. The article analyzes a representative survey of approximately 2000 Norwegian respondents, to uncover the importance of financial transfers from parents to young adult children in transmitting social inequality between the generations. For parents to help out financially in the first years after their children move into independent households is not uncommon. This support entails a direct transfer of resources, possibly allowing the young adults to acquire better housing than they could otherwise afford. Financial transfers can also influence young adults' assessment of the cost of taking higher education. The article's main conclusion is that parental financial help contributes little to social reproduction. First, the socio-economic status of parents has relatively limited effect on the occurrence of assistance. Second, financial transfers appear to have no bearing on the young persons' level of academic achievement, on the age at which they become home-owners, or on the quality of their housing. [ABSTRACT FROM AUTHOR]

This paper explores the home-ownership implications of legal issues pertaining to marital status and of discrimination based on sexual orientation or marital status using United States 2000 Decennial Census data. Interesting differences are found between couple types in the effects of several variables. Same-sex couples are more likely than unmarried opposite-sex couples to own rather than rent homes but less likely to do so than married couples. In particular, the effects of household income and of a black householder are smaller for married couples than for same-sex and unmarried opposite-sex couples. Also, same-sex couples are not more likely to own homes in center city areas than elsewhere; married couples, however, are less likely to own homes in the city. Among high-income same-sex households, women are more likely than men to own homes but less likely to do so in US center city areas. [ABSTRACT FROM AUTHOR]

The structured inequalities of capital investment and disinvestment are prominent themes in critical urban and regional research, but many accounts portray ‘capital’ as a global, faceless and placeless abstraction operating according to a hidden, unitary logic. Sweeping political-economic shifts in the last generation demonstrate that capital may shape urban and regional processes in many different ways, and each of these manifestations creates distinct constraints and opportunities. In this paper, we analyze a new institutional configuration in the USA that is reshaping access to wealth among the poor – a policy ‘consensus’ to expand home-ownership among long-excluded populations. This shift has opened access to some low- and moderate-income households, and racial and ethnic minorities, but the necessary corollary is a greater polarization between those who are able to own and those who are not. We provide a critical analysis of these changes, drawing on national housing finance statistics as well as a multivariate analysis of differences between owners and renters in the 1990s in New York City. As home-ownership strengthens its role as a privatized form of stealth urban and housing policy in the USA, its continued expansion drives a corresponding reconstruction of its value for different groups, and inscribes a sharper axis of property-rights inequalities among owners and renters in the working classes. [ABSTRACT FROM AUTHOR]

This paper focuses on the number of rooms occupied by compound dwellers in Kumasi, Ghana, testing the hypothesis that households using their homes for income generation occupy more rooms. The study uses data collected from a 596-household survey in Kumasi in 1996. About a quarter of the sample households used their home for income generation. Using logistic regression to examine the determinants of number of rooms occupied by sample households showed that the use of housing for income generation is a statistically significant determinant of the number of rooms occupied by compound dwellers. [Copyright &y& Elsevier]

This paper points to the significant decline in the home ownership rates of younger Australians in the past 25 years. This is attributed to the effects of increased unemployment rates, increased income inequality and increased volatility in financial and asset markets. The paper suggests these changes have created a far riskier environment for funding housing and argues that significant changes will be needed in the form and provision of housing finance to prevent a reduction in the overall home ownership rate. Changes are needed in the nature of instruments used to finance housing, in the protection provided for borrowers and in the sources of funds used. [ABSTRACT FROM PUBLISHER]