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Home-ownership for future generations

Meen, G. (2013) Home-ownership for future generations. Urban Studies, 50 (4). pp. 637-656. ISSN 0042-0980

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To link to this article DOI: 10.1177/0042098012458006

Abstract/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 baby-boomers 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.

Item Type:Article
Refereed:Yes
Divisions:Faculty of Arts, Humanities and Social Science > School of Politics, Economics and International Relations > Economics
ID Code:28611
Publisher:Taylor & Francis

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