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