Homeownership for future generations in the UK

Publication type

Journal Article

Author

Publication date

March 15, 2013

Summary:

This paper constructs a housing market model to analyse conditions for different generations of households in the UK. Previous policy work has suggested that babyboomers have benefitted at the expense of younger generations. The model relies on a form of financial accelerator in which existing homeowners reinvest a proportion of the capital gains on moving home. The model is extended to look at homeownership probabilities. It also explains why an increasing share of mortgages has gone to existing owners, despite market liberalisation and securitisation. In addition, the model contributes to the explanation of volatility.

Published in

Urban Studies

Volume and page numbers

Volume: 50 , p.637 -656

DOI

http://dx.doi.org/10.1177/0042098012458006

ISSN

420980

Subjects

Notes

Albert Sloman Library Periodicals *restricted to Univ. Essex registered users*

#521693

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