Motivations for Equity Borrowing
A Welfare-switching Effect
Dados Bibliográficos
| ID | 10864667 |
|---|---|
| Autores | Graeme A Wood (0000-0002-1465-3016, RMIT Europe, autor correspondente), Gavin Wood (0000-0001-7187-2197), Sharon Parkinson (0000-0001-9470-6239, RMIT Europe), Beverley A Searle (0000-0003-4319-432X), Beverley Searle, Susan J Smith (0000-0001-7705-2077, University of Cambridge) |
| Ano | 2013 |
| Volume | 50 |
| Fascículo | 12 |
| Páginas | 2588-2607 |
| Data de publicação | 2013-09-01 |
| Peer Reviewed | Sim |
| Open Access | Sim |
| Tipo | ARTICLE |
| Periódico | Urban Studies (JOURNAL) |
| Identificadores do periódico | ISSN: 0042-0980 • E-ISSN: 1360-063X |
| Editora | SAGE Publications (PUBLISHER • US) |
| DOI | 10.1177/0042098013477706 |
| OpenAlex | W2019130547 |
| Idioma | EN |
| Citações recebidas | 28 |
| Referências citadas | 26 |
During the early 2000s, mortgage market innovation together with home price appreciation increased the scope for mortgage equity withdrawal. From a macroeconomic perspective, this proved to be an important transmission mechanism for the wealth (particularly collateral) effects of housing. Microeconomic accounts of equity borrowing are less well developed, since standard models of savings and consumption rarely take housing wealth into account. This paper, however, builds on a small but growing literature assigning a precautionary savings role to consumption from housing wealth. The analysis uses panel data sourced from Britain and Australia to model households’ motivations for equity borrowing. Key among these motivations are pressing, uninsurable, ostensibly short-term, spending needs. In these contexts, it is proposed that equity borrowing assumes a welfare-switching role, substituting privately owned housing wealth for collectively funded safety-nets
Collateral · Consumption (sociology · Economics · Equity (law · Equity risk · Home equity · Intergenerational equity · Labour economics · Market economy · Monetary economics · Precautionary savings · Private equity · Public economics · Welfare · Finance · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Housing, Finance, and Neoliberalism
Residential mobility and mental health
The impact of negative gearing on the investment decisions of housing investors
From Housing Wealth to Mortgage Debt
Why Not Cash Out Home Equity? Reflections on the Finnish Case
The Edges of Owner-Occupation versus Rentier Capitalism
Living in Assets Without Limits
What has debt got to do with it? The Valuation of Homeownership in the Era of Financialization
Explaining the Link between Housing and Health
Debted Objects
Investor Subjectivities in Melbourne’s High Cost Housing Market
Centring Housing in Political Economy
Round the Houses
Re-thinking residential mobility
Unlocking housing wealth through mortgage debt
Acquisition capital
Simulating trends in housing wealth inequality in post-socialist Czech society
Kemeny revisited
The Social Value of Housing in Straitened Times
Channels from Housing Wealth to Consumption
Housing as Asset‐Based Welfare in Australia
Intergenerational Inequality? Labour, Capital, and Housing Through the Ages
The financialisation of housing and the rise of the investor-activist
Housing wealth, mortgages and Australians’ labour force participation in later life
What do housing wealth and tenure have to do with it? Changes in wellbeing of men and women after divorce using Australian panel data
Housing and economic inequality in the long run
The dangers of borrowing in the age of financialization
Wellbeing at the edges of ownership
Rethinking job loss in an age of assetisation
House Prices, Home Equity–Based Borrowing, and the US Household Leverage Crisis
The Tanner Lectures on Human Values
Unemployment Risk and Precautionary Wealth
Home ownership and asset-based welfare
From Housing Wealth to Mortgage Debt
Dematerialising Money? Observations on the Flow of Wealth from Housing to Other Things
The Taxation of Australian Landlords
Who Withdraws Housing Equity and Why
Owner-Occupation
Rethinking the Risks of Home Ownership
| Obras citantes distintas | 28 |
|---|---|
| Citações por ano | 1,87 |
| Intervalo de citações | 2011 - 2026 (16) |
| Velocidade de citação | current |
| Altamente citado | Não |
| Tipos de citação | Neutras: 28 |