123 results on '"HOME-OWNERSHIP"'
Search Results
2. Book Review: The Colonizing Self: Or, Home and Homelessness in Israel/Palestine.
- Subjects
HOMELESSNESS ,HOMELESS children ,SELF ,STATE power ,HOUSING - Abstract
"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]
- Published
- 2024
- Full Text
- View/download PDF
3. Home-ownership and unemployment: Revisiting the Oswald hypothesis from a regional heterogeneity perspective.
- Author
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Tohmo, Timo and Viinikainen, Jutta
- Subjects
UNEMPLOYMENT statistics ,UNEMPLOYMENT ,PANEL analysis ,HETEROGENEITY ,INTERNAL migration ,REGIONAL differences - Abstract
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]
- Published
- 2023
- Full Text
- View/download PDF
4. From squat to cottage: materiality, informal ownership, and the politics of unspotted homes.
- Author
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Vašát, Petr
- Subjects
- *
HOUSING , *HOME ownership , *SOCIOMATERIALITY , *HOMELESSNESS , *COTTAGES , *DWELLINGS , *CITIZENSHIP - Abstract
'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]
- Published
- 2023
- Full Text
- View/download PDF
5. Housing and fertility: a macro-level, multi-country investigation, 1993-2017.
- Author
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Brauner-Otto, Sarah R.
- Subjects
- *
HOME ownership , *HUMAN fertility , *FIRST pregnancy , *HIGH-income countries , *WOMEN'S health - Abstract
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]
- Published
- 2023
- Full Text
- View/download PDF
6. Asset-rich and cash-poor: which older adults value reverse mortgages?
- Author
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Fong, Joelle H., Mitchell, Olivia S., and Koh, Benedict S. K.
- Subjects
- *
SENIOR housing , *DEBT , *MORTGAGES , *AGING , *RESEARCH funding , *ENDOWMENTS , *FINANCIAL management , *RETIREMENT , *REAL property , *ECONOMICS , *OLD age - Abstract
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]
- Published
- 2023
- Full Text
- View/download PDF
7. 'New' but 'Squeezed': Middle Class and Mortgaged Homeownership in Croatia.
- Author
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Mikuš, Marek
- Subjects
- *
MIDDLE class , *HOME ownership , *HOUSING finance , *PREDATORY lending , *CREDIT ratings , *HOUSING discrimination - Abstract
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]
- Published
- 2022
- Full Text
- View/download PDF
8. Housing and economic inequality in the long run: The retreat of owner occupation.
- Author
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Smith, Susan J., Clark, William A. V., Ong ViforJ, Rachel, Wood, Gavin A., Lisowski, William, and Truong, N. T. Khuong
- Subjects
ECONOMIC liberty ,RESIDENTIAL real estate ,HOUSING ,EQUALITY - Abstract
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]
- Published
- 2022
- Full Text
- View/download PDF
9. The wage curve within and across regions: new insights from a pairwise view of US states.
- Author
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Holmes, Mark J. and Otero, Jesús
- Subjects
WAGE decreases ,WAGES ,UNEMPLOYMENT statistics ,GREAT Recession, 2008-2013 - Abstract
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]
- Published
- 2022
- Full Text
- View/download PDF
10. Disentangling age and cohorts effects on home-ownership and housing wealth in Turkey.
- Author
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Ceritoğlu, Evren
- Subjects
HOME ownership ,HOUSING ,HOUSEHOLD budgets ,SECOND homes ,HOUSEHOLD surveys - Abstract
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]
- Published
- 2022
- Full Text
- View/download PDF
11. Externalities of home-ownership on entrepreneurship: empirical evidence
- Author
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Laamanen, Jani-Petri
- Published
- 2019
- Full Text
- View/download PDF
12. The effect of culture on home‐ownership.
- Author
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Marcén, Miriam and Morales, Marina
- Subjects
- *
CULTURE diffusion , *COUNTRY of origin (Immigrants) , *CULTURE , *CROSS-cultural differences - Abstract
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]
- Published
- 2020
- Full Text
- View/download PDF
13. Determinants of intention of using mortgage in financing home ownership in Bauchi, Nigeria
- Author
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Usman, Hamza and Lizam, Mohd
- Published
- 2016
- Full Text
- View/download PDF
14. EFECTOS DEL ORIGEN SOCIAL Y DE LA POSICIÓN DE CLASE EN EL BIENESTAR MATERIAL. UN ABORDAJE SOBRE LA DESIGUALDAD SOCIAL EN LA CIUDAD DE BUENOS AIRES 2012-2013.
- Author
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DE LA FUENTE, JOSÉ JAVIER RODRÍGUEZ
- Abstract
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.)
- Published
- 2019
- Full Text
- View/download PDF
15. Loneliness, socio-economic status and quality of life in old age: the moderating role of housing tenure.
- Author
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SZABO, AGNES, ALLEN, JOANNE, ALPASS, FIONA, and STEPHENS, CHRISTINE
- Subjects
- *
CONTROL (Psychology) , *AUTONOMY (Psychology) , *EMOTIONS , *LONELINESS in old age , *PLEASURE , *QUALITY of life , *TIME , *SOCIOECONOMIC factors , *SENIOR housing , *STRUCTURAL equation modeling , *CASE-control method - Abstract
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]
- Published
- 2019
- Full Text
- View/download PDF
16. How housing affects the association between low income and living conditions-deprivation across Europe
- Author
-
Caroline Dewilde and Sociology
- Subjects
Low income ,Sociology and Political Science ,Association (object-oriented programming) ,0211 other engineering and technologies ,02 engineering and technology ,DETERMINANTS ,living conditions ,Environmental health ,HOMEOWNERSHIP ,WELFARE-STATE ,050602 political science & public administration ,Economics ,financialization of housing ,EMPLOYMENT ,HEALTH-STATUS ,housing policy ,NEOLIBERALISM ,05 social sciences ,021107 urban & regional planning ,0506 political science ,POVERTY ,housing and poverty ,welfare states ,FINANCIALIZATION ,HOME-OWNERSHIP ,VARIETIES ,General Economics, Econometrics and Finance - Abstract
To explain an emerging trend towards deteriorating living conditions among low-income households across several (West-)European countries, it makes sense to investigate domains of socio-economic regulation that impact on expenditures, rather than incomes. I focus specifically on the domain of housing. Multilevel analyses for 28 countries (EU-SILC) demonstrate that redistributive housing policies such as rental market regulation and housing allowances weaken the cross-sectional (between-country) positive association between a low-income and living conditions-deprivation, while also benefiting living conditions across the broader population. Regarding changes over time, increased uptake of housing allowances throughout the Great Financial Crisis (2008/2009) seems to have shielded in particular renters from deteriorating living conditions, and might have compensated for declining availability of social housing. Higher house prices and price volatility, indicating housing market financialization, are associated with increased living conditions-deprivation for renters and low-income owners, both cross-sectionally and within countries over time. Anti-poverty policies should thus take a broader perspective, and take better account of provision for housing and other basic needs.
- Published
- 2022
17. Diffusion and Risks of House Prices in the Netherlands
- Author
-
Alfred Larm Teye
- Subjects
house prices ,housing ,housing market ,Netherlands ,home-ownership ,Architecture ,NA1-9428 - Abstract
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.
- Published
- 2018
- Full Text
- View/download PDF
18. Housing and economic inequality in the long run: The retreat of owner occupation
- Abstract
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.
- Published
- 2022
19. How housing affects the association between low income and living conditions-deprivation across Europe
- Abstract
To explain an emerging trend towards deteriorating living conditions among low-income households across several (West-)European countries, it makes sense to investigate domains of socio-economic regulation that impact on expenditures, rather than incomes. I focus specifically on the domain of housing. Multilevel analyses for 28 countries (EU-SILC) demonstrate that redistributive housing policies such as rental market regulation and housing allowances weaken the cross-sectional (between-country) positive association between a low-income and living conditions-deprivation, while also benefiting living conditions across the broader population. Regarding changes over time, increased uptake of housing allowances throughout the Great Financial Crisis (2008/2009) seems to have shielded in particular renters from deteriorating living conditions, and might have compensated for declining availability of social housing. Higher house prices and price volatility, indicating housing market financialization, are associated with increased living conditions-deprivation for renters and low-income owners, both cross-sectionally and within countries over time. Anti-poverty policies should thus take a broader perspective, and take better account of provision for housing and other basic needs.
- Published
- 2022
20. Do high levels of home-ownership create unemployment? Introducing the missing link between housing tenure and unemployment.
- Author
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Borg, Ida and Brandén, Maria
- Subjects
- *
HOME ownership , *UNEMPLOYMENT , *HOUSING , *LABOR market , *LABOR mobility - Abstract
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]
- Published
- 2018
- Full Text
- View/download PDF
21. Home-ownership as a social norm and positional good: Subjective wellbeing evidence from panel data.
- Author
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Foye, Chris, Clapham, David, and Gabrieli, Tommaso
- Subjects
- *
HOME ownership , *HOUSING , *HOMEOWNERS , *SOCIAL norms , *WELL-being - Abstract
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]
- Published
- 2018
- Full Text
- View/download PDF
22. Home-ownership and housing wealth of elderly divorcees in ten European countries.
- Author
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WIND, BAREND and DEWILDE, CAROLINE
- Subjects
- *
DIVORCE , *ECONOMICS , *ACQUISITION of property , *INFORMATION storage & retrieval systems -- Finance , *RETIREMENT , *EMPIRICAL research , *SENIOR housing , *OLD age - Abstract
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]
- Published
- 2018
- Full Text
- View/download PDF
23. DID THE ECONOMIC CRISIS HAVE THE SAME EFFECT ON HOME-OWNERS AND RENTERS IN TERMS OF EMPLOYMENT?
- Author
-
BARRIOS GARCÍA, JAVIER A.
- Subjects
FINANCIAL crises ,HOMEOWNERS ,EMPLOYMENT ,LANDLORD-tenant relations ,INCOME - Abstract
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.)
- Published
- 2017
24. The really big contradiction: homeownership discourses in times of financialization
- Author
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Manuel B. Aalbers and Erlend Fikse
- Subjects
Public Administration ,Sociology and Political Science ,media_common.quotation_subject ,Environmental Studies ,0211 other engineering and technologies ,0507 social and economic geography ,Social Sciences ,Environmental Sciences & Ecology ,02 engineering and technology ,Regional & Urban Planning ,Environmental Science (miscellaneous) ,FLANDERS ,asset-based welfare ,Belgium ,Political science ,Contradiction ,financialisation ,WELFARE ,HOUSE ,media_common ,Science & Technology ,housing affordability ,05 social sciences ,ideology ,021107 urban & regional planning ,STATE ,Urban Studies ,homeownership ,Political economy ,discourse ,Financialization ,HOME-OWNERSHIP ,Ideology ,Life Sciences & Biomedicine ,050703 geography - Abstract
Belgium is a typical homeowner society where homeownership is not only the largest but also the ‘normalized’ form of tenure. The origins of the Belgian homeownership ideology go back to the early d...
- Published
- 2020
25. The Changing Association Between Homeownership and the Transition to Parenthood
- Author
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Agnese Vitali, Ann Berrington, Valentina Tocchioni, and Daniele Vignoli
- Subjects
Adult ,Longitudinal study ,Home-ownership ,Fertility ,Housing uncertainties ,Britain ,Adolescent ,media_common.quotation_subject ,0211 other engineering and technologies ,Sample (statistics) ,02 engineering and technology ,White People ,Young Adult ,Housing tenure ,0502 economics and business ,Economics ,Humans ,Longitudinal Studies ,050207 economics ,Association (psychology) ,Demography ,media_common ,Family Characteristics ,05 social sciences ,Ownership ,1. No poverty ,021107 urban & regional planning ,British Household Panel Survey ,Preference ,Unemployment ,8. Economic growth ,Housing ,Demographic economics ,Female ,Panel data - Abstract
The literature suggests a positive link between homeownership and the transition to parenthood. However, in recent decades, couples' preference for becoming homeowners before having their first child has been undermined by rising housing unaffordability and housing uncertainty. An archetypal example is Britain, where homeownership rates among young adults have fallen substantially as a result of low wages, unemployment, reductions in the availability of mortgage credit, and rising house prices. This situation has produced a housing crisis. Using longitudinal data from the British Household Panel Survey (1991–2008) and the United Kingdom Household Longitudinal Study (2009–2016), we apply multilevel, discrete-time event-history techniques to a sample of women aged 18–42. We investigate whether and how the link between homeownership and entering parenthood has changed in Britain in recent decades. Our findings reveal that in comparison with the 1990s, the likelihood of becoming a parent has declined among homeowners, whereas childbearing rates among private renters have remained stable. Thus, owner-occupiers and private renters have become more similar in terms of their likelihood of entering parenthood. Overall, our findings question the classical micro-level assumption of a positive link between homeownership and transition to parenthood, at least among Britain's “Generation Rent.” These findings are subsequently interpreted in terms of increased housing uncertainty.
- Published
- 2021
26. The Meaning of Home and Its Implications on Alternative Tenures: A Malaysian Perspective.
- Author
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Hamzah, H. and Adnan, N.
- Subjects
- *
HOME (The concept) , *HOME environment , *HOMEOWNERS , *ATTACHMENT behavior , *PSYCHOLOGY - Abstract
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]
- Published
- 2016
- Full Text
- View/download PDF
27. Housing for care: A response to the post-transitional old-age gap?
- Author
-
Mandič, Srna
- Subjects
- *
AGING , *FAMILIES , *HOUSING , *LONG-term health care , *RESEARCH funding , *FINANCIAL management - Abstract
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]
- Published
- 2016
- Full Text
- View/download PDF
28. The impact of housing consumption value on the spatial distribution of welfare
- Author
-
Paul Kilgarriff, Cathal O'Donoghue, Martin Charlton, Ronan Foley, Maastricht Graduate School of Governance, RS: FSE MGSoG, and RS: UNU-MERIT Theme 2
- Subjects
Economics and Econometrics ,WEALTH ,Public housing ,media_common.quotation_subject ,LEVEL ,Microsimulation ,AUTOCORRELATION ,Renting ,PRICES ,Income distribution ,o18 - "Economic Development: Urban ,0502 economics and business ,BENEFITS ,Econometrics ,Economics ,Rural ,050207 economics ,Economic Development: Urban ,media_common ,040101 forestry ,and Transportation Analysis ,Housing ,Infrastructure" ,business.industry ,05 social sciences ,Reverse mortgage ,Spatial analysis ,INCOME-DISTRIBUTION ,04 agricultural and veterinary sciences ,IMPUTED RENT ,Regional ,MODEL ,Imputed rent ,Inequality ,Data interpolation ,o18 - "Economic Development: Urban, Rural, Regional, and Transportation Analysis ,Infrastructure ,0401 agriculture, forestry, and fisheries ,Cash flow ,HOME-OWNERSHIP ,business ,Welfare - Abstract
The measure of a household's income should include not only monetary components but also non-monetary components and in-kind benefits, such as imputed rent. Imputed rent is the rent an owner can expect to receive were the house on the rental market. This study examined the impact of net imputed rent on the distribution of income in a spatial context. The spatial impact of net imputed rent, mortgage payments, private rent, public rent (social housing schemes) and reverse mortgage/annuity on the spatial distribution of disposable income was examined for the year 2011. A spatial microsimulation model, simulated model of the Irish local economy (SMILE), was used to simulated disposable income at a detailed spatial scale. Rental and property values are estimated at a spatial scale adopting the kriging methodology. The created rental and property data were merged into the SMILE simulated dataset to examine the impact of housing on the spatial distribution of disposable income at a small area level. Results show that the imputed cash flows from property ownership decreases the income share of those at the bottom of the income distribution and is inequality increasing, except in the case of those aged 65 +. Spatially the benefits of housing are greatest in urban areas where property values are highest. The small area measurements of imputed rent highlight the dis-equalising impact imputed rent and housing wealth has on inequality; the rich being able to consume more housing.
- Published
- 2019
29. Homeownership, saving and financial wealth
- Author
-
Caroline Dewilde, Philipp M. Lersch, and Sociology
- Subjects
Labour economics ,Sociology and Political Science ,comparative housing ,0211 other engineering and technologies ,REGIMES ,02 engineering and technology ,Environmental Science (miscellaneous) ,housing investment ,HOUSING WEALTH ,0502 economics and business ,Financial wealth ,Economics ,050207 economics ,Consumption (economics) ,LIFE-COURSE ,saving ,CONSEQUENCES ,BRITAIN ,05 social sciences ,1. No poverty ,021107 urban & regional planning ,CONSUMPTION ,HOUSEHOLD WEALTH ,homemaking ,Urban Studies ,8. Economic growth ,Life course approach ,GERMANY ,HOME-OWNERSHIP ,Home ownership - Abstract
The finding that homeowners own more non-housing wealth than tenants is well known. We examine whether the higher financial wealth of owners can be partly explained with increases in saving when becoming a homeowner in two distinct institutional contexts. Using longitudinal data for the UK (British Household Panel Survey) and Germany (Socio-Economic Panel Study), we find that homeowners save more and are financially wealthier than tenants. However, when controlling for time-constant selection into homeownership, upon entering homeownership households reduce their probability to save in Germany and reduce their average saving rate in Germany and the UK. For Germany, there is some evidence that processes of homemaking (family formation and home improvement) lead to less saving. For the UK, we find no evidence that increasing home equity over time discourages saving. Finally, tenants do not compensate for their lack of housing wealth by accumulating more non-housing wealth over time. This disadvantage for tenants seems more pronounced in the UK compared to Germany.
- Published
- 2019
30. In which European countries is homeownership more financially advantageous?
- Author
-
Barend Wind, Caroline Dewilde, Sociology, and Urban and Regional Studies Institute
- Subjects
life course ,Labour economics ,OUTCOMES ,saving ,net worth ,media_common.quotation_subject ,Geography, Planning and Development ,Net worth ,0211 other engineering and technologies ,021107 urban & regional planning ,02 engineering and technology ,Management, Monitoring, Policy and Law ,POLICY ,homeownership ,Economics ,Life course approach ,ASSET-BASED WELFARE ,HOME-OWNERSHIP ,Welfare ,Housing wealth ,media_common - Abstract
Previous research consistently shows that homeowners accumulate more wealth compared with tenants. In this paper, we describe the size of this ‘tenure wealth gap’ for 10 European countries. Furthermore, we explain why the size of the tenure wealth gap differs between countries by including cross-level interactions between institutional variables and housing tenure in a series of country-fixed effects regression models. Cross-country differences arise as the costs of owning versus renting, as well as the profitability of homeownership versus other investments, differ along the lines of welfare policies and housing regime arrangements. We attempt to control for selection bias related to tenure status by using propensity score matching techniques, using data from the Household Finance and Consumption Survey (HFCS). Our findings suggest that the tenure wealth gap is largest in familialistic welfare states, in which marginalised tenants are unable to save, whereas homeownership is a family resource that provides an in-kind retirement income (‘passive’ asset-based welfare). We find smaller tenure wealth gaps in countries with a financialised promotion of homeownership, where housing wealth functions as a privatised welfare arrangement (‘active’ asset-based welfare). The smallest tenure wealth gaps occur in countries with more affordable rental housing, allowing tenants to accumulate savings.
- Published
- 2019
31. Poor because of low pensions or expensive housing? The combined impact of pension and housing systems on poverty among the elderly.
- Author
-
Delfani, Neda, De Deken, Johan, and Dewilde, Caroline
- Subjects
- *
POOR people , *ELDERLY poor , *PENSIONS , *LUXURY housing , *POVERTY , *INCOME - Abstract
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]
- Published
- 2015
- Full Text
- View/download PDF
32. Secondary property ownership in Europe: Contributing to asset-based welfare strategies and the ‘really big trade-off’
- Abstract
This paper examines the role of secondary property ownership (SPO) in Europe (EU). Focusing predominantly on residential properties used as rental-investments, it explores their role in the political economy of housing and welfare, contributing to respectively newer and older literatures about housing wealth and asset-based welfare and the ‘really big trade-off’ between outright homeownership and generous pensions. Both have hitherto largely been viewed as related to ownership of the primary residence. The empirical part of this paper is based on the Household Finance and Consumption Survey (HFCS), carried out by the European Central Bank in 2014, and providing information about property ownership by samples of households in 20 member states of the EU. The results show that the total wealth held in the form of SPO is considerable while also varying considerably from country to country. SPO held as an investment in the form of landlordism is most prevalent in countries characterised as corporatist-conservative or liberal welfare regimes. In the corporatist-conservative countries, SPO can be seen as a since long established proactive asset-based welfare strategy that compensates for the limitations of their fragmented pension systems, especially for the self-employed. In liberal welfare states, the recent upswing of buy-to-let landlordism is a manifestation of the concentration of housing wealth and limited access to homeownership for starters, which makes SPO an ever more attractive investment.
- Published
- 2020
33. Housing wealth and aged care: asset-based welfare in practice in three OECD countries
- Abstract
The transition of the baby boomer bulge into old age and their increasing longevity will lift the numbers of elderly in residential aged care. Population ageing and associated fiscal pressures have motivated governments to shift responsibility for the financing of aged care to the individual. We consider policies that include owner-occupiers’ housing wealth and imputed rental incomes in means tests that determine co-contribution charges for residential aged care. Differences in how housing wealth is included in the residential aged care resource tests of three OECD countries–Australia, England and the Netherlands–are documented. We find some neglected equity implications as tenants in all three countries typically pay higher co-payments for their residential aged care than homeowners with similar wealth holdings. These outcomes are a consequence of the concessional treatment of owners’ housing equity stakes, and of wider significance given the growing importance of asset-based welfare strategies. England has relatively progressive asset and income tests that offer more limited concessions.
- Published
- 2020
34. Home-Ownership and Pensions: Negative Correlation, but No Trade-off.
- Author
-
Delfani, Neda, De Deken, Johan, and Dewilde, Caroline
- Subjects
- *
HOME ownership , *PENSIONS , *HOUSING policy , *INCOME , *PUBLIC welfare - Abstract
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]
- Published
- 2014
- Full Text
- View/download PDF
35. Naturalization and the transition to homeownership: an analysis of signalling in the Dutch housing market
- Author
-
Floris Peters, RS: FASoS GTD, RS: FASoS - CERiM, RS: FASOS - MACIMIDE, and Political Science
- Subjects
DYNAMICS ,WEALTH ,Sociology and Political Science ,IMMIGRANT NATURALIZATION ,media_common.quotation_subject ,Refugee ,Immigration ,0211 other engineering and technologies ,0507 social and economic geography ,02 engineering and technology ,Environmental Science (miscellaneous) ,Racism ,Political science ,CITIZENSHIP ,RACIAL-DISCRIMINATION ,10. No inequality ,Citizenship ,WELFARE ,media_common ,INCOME ,Transition (fiction) ,05 social sciences ,the Netherlands ,021107 urban & regional planning ,Naturalization ,Urban Studies ,homeownership ,Register data ,8. Economic growth ,REFUGEES ,Demographic economics ,HOME-OWNERSHIP ,PRICE ,050703 geography ,Welfare - Abstract
This article pioneers in investigating a citizenship premium for homeownership of first-generation immigrants, using Dutch register data from Statistics Netherlands (N ¼ 106,187). I hypothesize that naturalization favourably influences the risk-calculation of lenders through positive signalling among employed migrants, who are likely to meet the basic financial criteria for credit. Results confirm that, all else constant, employed immigrants who have naturalized are 26% more likely to be homeowner. Additional analyses specifically designed to isolate endogeneity bias show that the effect is smaller, but still reveal an increase in the probability of homeownership after naturalization. Citizenship acquisition matters less for migrants with a native-born partner, suggesting that legal status discrimination may be an underlying mechanism. I find no evidence that the relevance of citizenship is conditioned by cultural distance of the origin country or the post-2008 economic crisis. I conclude that naturalization matters in the housing market, but that its relevance cannot be generalized to all migrant groups.
- Published
- 2020
36. Family life transitions, residential relocations, and housing in the life course: Current research and opportunities for future work: Introduction to the Special Collection on 'Separation, Divorce, and Residential Mobility in a Comparative Perspective'
- Author
-
Clara H. Mulder, Hill Kulu, Julia Mikolai, Urban and Regional Studies Institute, Economic & Social Research Council, University of St Andrews. School of Geography & Sustainable Development, University of St Andrews. Population and Health Research, University of St Andrews. Geographies of Sustainability, Society, Inequalities and Possibilities, and University of St Andrews. Sir James Mackenzie Institute for Early Diagnosis
- Subjects
separation ,MIGRATION ,media_common.quotation_subject ,Separation (statistics) ,T-NDAS ,Context (language use) ,divorce ,Separation ,UNION DISSOLUTION ,Divorce ,SPATIAL MOBILITY ,Political science ,HQ ,FERTILITY ,Comparative perspective ,housing ,Demography ,media_common ,MARRIAGE ,Child custody ,HQ The family. Marriage. Woman ,MOVES ,Family life ,Europe ,JOINT HOME ,homeownership ,lcsh:HB848-3697 ,Work (electrical) ,Homeownership ,LIVING-APART ,Housing ,lcsh:Demography. Population. Vital events ,Life course approach ,Demographic economics ,HOME-OWNERSHIP ,europe ,Welfare ,LONGITUDINAL ANALYSIS - Abstract
PartnerLife is supported by a grant from the Netherlands Organisation for Scientific Research (NWO, grant no. 464–13–148), the Deutsche Forschungsgemeinschaft (DFG, grant no. WA 1502/6–1), and the Economic and Social Research Council (ESRC, grant no. ES/L01663X/1) in the Open Research Area Plus scheme. Clara Mulder’s research was also part of The FamilyTies project. This project has received funding from the European Research Council (ERC) under the European Union’s Horizon 2020 research and innovation programme (grant agreement No 740113). Background : This article provides an introduction to the Special Collection on “Separation, Divorce, and Residential Mobility in a Comparative Perspective.” The Special Collection consists of six European case studies: Belgium, Finland, France, Italy, Hungary, and the United Kingdom, and a cross-national study comparing Australia, Germany, the Netherlands, and the United Kingdom. All studies focus on residential relocations or housing outcomes following separation. Results : Divorce and separation have a long-lasting impact on individuals’ residential relocations and housing conditions. This influence is gendered – women are generally worse off than men – and varies by individuals’ educational level, whether they have children, and who cares for the children following union dissolution. Conclusions : Although the study countries are different regarding their welfare systems and housing markets, papers in the Special Collection report striking similarities in the housing and residential consequences of union dissolution across countries. Separation leads to a prolonged residential and housing instability for many individuals. Contribution : The studies contribute to the literature by focusing on the role of repartnering, child custody arrangements, the parental home, location continuity, country context, and gender for postseparation residential patterns and trajectories. Furthermore, this Special Collection contains the first analyses of the residential and housing patterns of separated men and women in Eastern and Southern Europe. Publisher PDF
- Published
- 2020
37. Secondary property ownership in Europe: Contributing to asset-based welfare strategies and the ‘really big trade-off’
- Author
-
Barend Wind, John Doling, Caroline Dewilde, Sociology, and Urban and Regional Studies Institute
- Subjects
landed property ,INVESTMENT ,IMPACT ,housing wealth ,rent ,Geography, Planning and Development ,apartment ownership ,0211 other engineering and technologies ,Vermögen ,02 engineering and technology ,Trade-off ,pension ,State (polity) ,buy-to-let ,Einkommenspolitik, Lohnpolitik, Tarifpolitik, Vermögenspolitik ,Economics ,Wohlfahrt ,media_common ,life course ,Sozialwissenschaften, Soziologie ,Immobilien ,1. No poverty ,021107 urban & regional planning ,assets ,Investment (macroeconomics) ,POLICY ,Miete ,STATE ,Europe ,right of ownership ,8. Economic growth ,ddc:300 ,Life course approach ,Europa ,VARIETIES ,Income Policy, Property Policy, Wage Policy ,Inequality ,Secondary property ownership ,real estate ,media_common.quotation_subject ,PENSIONS ,Management, Monitoring, Policy and Law ,Wohnungseigentum ,Market economy ,life career ,Asset (economics) ,Social sciences, sociology, anthropology ,Pension ,Rente ,EU-SILC ,Eigentumsrecht ,welfare ,Grundbesitz ,GENDER ,HOME-OWNERSHIP ,INEQUALITY ,Lebenslauf ,Welfare - Abstract
This paper examines the role of secondary property ownership (SPO) in Europe (EU). Focusing predominantly on residential properties used as rental-investments, it explores their role in the political economy of housing and welfare, contributing to respectively newer and older literatures about housing wealth and asset-based welfare and the ‘really big trade-off’ between outright homeownership and generous pensions. Both have hitherto largely been viewed as related to ownership of the primary residence. The empirical part of this paper is based on the Household Finance and Consumption Survey (HFCS), carried out by the European Central Bank in 2014, and providing information about property ownership by samples of households in 20 member states of the EU. The results show that the total wealth held in the form of SPO is considerable while also varying considerably from country to country. SPO held as an investment in the form of landlordism is most prevalent in countries characterised as corporatist-conservative or liberal welfare regimes. In the corporatist-conservative countries, SPO can be seen as a since long established proactive asset-based welfare strategy that compensates for the limitations of their fragmented pension systems, especially for the self-employed. In liberal welfare states, the recent upswing of buy-to-let landlordism is a manifestation of the concentration of housing wealth and limited access to homeownership for starters, which makes SPO an ever more attractive investment.
- Published
- 2020
38. 'Generation Rent' and the fallacy of choice
- Subjects
Foucault ,housing consumption ,Bourdieu ,ENGLAND ,housing inequalities ,YOUNG-PEOPLE ,ADULTS ,ETHOPOLITICS ,young people ,POVERTY ,governance ,homeownership ,PREJUDICE ,GOVERNMENTALITY ,GENDER ,HOME-OWNERSHIP ,UK ,generation rent ,private rented sector - Abstract
The now widely used term ‘Generation Rent’ reflects the growing phenomenon in the UK of young people living in the private rental sector for longer periods of their lives. Given the importance of leaving home in youth transitions to adulthood, this is a significant change. It is further critical given the rapid expansion of the private rented sector in the UK over recent decades and the more limited rights that private tenants have. This article draws on qualitative evidence to highlight the impact this has on young people's lives, and broader patterns of social‐spatial inequality. Our research highlights that, whilst young people retain long‐term preferences for homeownership, they nonetheless deconstruct this normalized ideal as a ‘fallacy of choice', given its unachievability in reality. Influenced by the work of Foucault, Bourdieu and Bauman, we emphasize how these dominant norms of housing consumption are in tension with objective reality, since young people's ability to become ‘responsible homeowners' is tempered by their material resources and the local housing opportunities available to them. Nonetheless, this does not exempt them from the ‘moral distinctions' being made, wherein renting is problematized and constructed as ‘flawed consumption'. These conceptual arguments advance international scholarly debates about the governance of consumption, offering a novel theoretical lens through which to examine the difficulties facing ‘Generation Rent’.
- Published
- 2018
39. Se distinguer dans les espaces pavillonnaires ?
- Author
-
Hélène Steinmetz
- Subjects
residential choices ,home-ownership ,patrimonialization ,housing estate ,residential mobilizations ,peri-urban ,Human ecology. Anthropogeography ,GF1-900 ,Urban groups. The city. Urban sociology ,HT101-395 - Abstract
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.
- Published
- 2010
- Full Text
- View/download PDF
40. Inter-generational ties, financial transfers and home-ownership support.
- Author
-
Mulder, Clara and Smits, Annika
- Subjects
INTERGENERATIONAL relations ,INTERPERSONAL relations ,FINANCIAL management ,HOME ownership ,HOUSING ,REAL estate business - Abstract
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]
- Published
- 2013
- Full Text
- View/download PDF
41. Housing Liquidity, Mobility, and the Labour Market.
- Author
-
Head, Allen and Lloyd-Ellis, Huw
- Subjects
HOME ownership ,LABOR market ,INTERNAL migration ,UNEMPLOYMENT ,LIQUIDITY (Economics) - Abstract
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]
- Published
- 2012
- Full Text
- View/download PDF
42. In which European countries is homeownership more financially advantageous?: Explaining the size of the tenure wealth gap in 10 countries with different housing and welfare regimes
- Abstract
Previous research consistently shows that homeowners accumulate more wealth compared with tenants. In this paper, we describe the size of this ‘tenure wealth gap’ for 10 European countries. Furthermore, we explain why the size of the tenure wealth gap differs between countries by including cross-level interactions between institutional variables and housing tenure in a series of country-fixed effects regression models. Cross-country differences arise as the costs of owning versus renting, as well as the profitability of homeownership versus other investments, differ along the lines of welfare policies and housing regime arrangements. We attempt to control for selection bias related to tenure status by using propensity score matching techniques, using data from the Household Finance and Consumption Survey (HFCS). Our findings suggest that the tenure wealth gap is largest in familialistic welfare states, in which marginalised tenants are unable to save, whereas homeownership is a family resource that provides an in-kind retirement income (‘passive’ asset-based welfare). We find smaller tenure wealth gaps in countries with a financialised promotion of homeownership, where housing wealth functions as a privatised welfare arrangement (‘active’ asset-based welfare). The smallest tenure wealth gaps occur in countries with more affordable rental housing, allowing tenants to accumulate savings.
- Published
- 2019
43. Advertising, promotion, and the rise of a national building society movement in interwar Britain.
- Author
-
Scott, Peter and Newton, LucyAnn
- Subjects
SAVINGS & loan association advertising ,SAVINGS & loan associations ,SALES promotion ,BRANDING (Marketing) ,HOME ownership ,BUSINESS networks ,INTERWAR Period (1918-1939) - Abstract
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]
- Published
- 2012
- Full Text
- View/download PDF
44. Funding Caribbean Retirement Migration: Housing Wealth Leakage and the Role of Overseas Land Inheritances.
- Author
-
Joseph, Ricky
- Subjects
- *
HOUSING , *RETURN migration , *WEST Indians , *EMIGRATION & immigration , *DWELLINGS & society - Abstract
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]
- Published
- 2012
- Full Text
- View/download PDF
45. The economic consequences of mortgage debt.
- Author
-
Meen, Geoffrey
- Subjects
MORTGAGE loans ,ECONOMIC impact ,SUBPRIME mortgages ,HOME ownership ,HOME prices ,SECONDARY mortgage market ,INDUSTRIAL organization (Economic theory) - Abstract
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]
- Published
- 2011
- Full Text
- View/download PDF
46. Home-ownership and asset-based welfare: the case of Belgium.
- Author
-
Decker, Pascal and Dewilde, Caroline
- Subjects
HOME ownership ,OLDER people ,PUBLIC welfare ,SOCIAL security - Abstract
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]
- Published
- 2010
- Full Text
- View/download PDF
47. Transnational Tense: Immigration and Inequality in American Housing Markets.
- Author
-
Wyly, ElvinK., Martin, DeborahG., Mendez, Pablo, and Holloway, StevenR.
- Subjects
- *
CITIES & towns , *ASSIMILATION (Sociology) , *HOME ownership , *IMMIGRANTS , *HMONG (Asian people) - Abstract
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]
- Published
- 2010
- Full Text
- View/download PDF
48. Is Gateway City Clustering behind Canada's Declining Immigrant Home-ownership Rates?
- Author
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Haan, Michael
- Subjects
EMIGRATION & immigration ,IMMIGRANT families ,HOME ownership ,HUMAN settlements ,METROPOLITAN areas ,DEMOGRAPHIC surveys - Abstract
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.
- Published
- 2009
- Full Text
- View/download PDF
49. Age-at-Arrival Differences in Home- ownership Attainment among Immigrants and their Foreign-born Offspring in Canada.
- Author
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Mendez, Pablo
- Subjects
HOME ownership ,AGE ,AGE groups ,AGE differences ,IMMIGRANTS ,HOUSEHOLDS ,GENERATIONS ,LONGITUDINAL method - Abstract
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.
- Published
- 2009
- Full Text
- View/download PDF
50. SOSIAL REPRODUKSJON I ETABLERINGSFASEN: BETYDNINGEN AV FORELDRES ØKONOMISKE STØTTE.
- Author
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Hellevik, Tale
- Subjects
SOCIAL reproduction ,HOUSEHOLDS ,SOCIAL structure ,YOUNG adults ,QUALITY of life ,SOCIAL stratification ,EQUALITY - Abstract
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]
- Published
- 2008
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