Halket, J;
Vasudev, S;
(2014)
Saving up or settling down: Home ownership over the life cycle.
Review of Economic Dynamics
, 17
(2)
pp. 345-366.
10.1016/j.red.2013.06.002.
Preview |
Text
Halket et al. Saving up or settling down .pdf Download (535kB) | Preview |
Abstract
In a Bewley model with endogenous price volatility, home ownership and mobility across locations and jobs, we assess the contribution of financial constraints, housing illiquidities and house price risk to home ownership over the life cycle. The model can explain the rise in home ownership and fall in mobility over the life cycle. While some households rent due to borrowing constraints in the mortgage market, factors that affect propensities to save and move, such as risky house values and transactions costs, are equally important determinants of the ownership rate.
| Type: | Article |
|---|---|
| Title: | Saving up or settling down: Home ownership over the life cycle |
| Open access status: | An open access version is available from UCL Discovery |
| DOI: | 10.1016/j.red.2013.06.002 |
| Publisher version: | http://dx.doi.org/10.1016/j.red.2013.06.002 |
| Language: | English |
| Additional information: | Open Access funded by Economic and Social Research Council Under a Creative Commons license |
| Keywords: | Home ownership; Incomplete markets; Illiquid assets; Financial constraints |
| UCL classification: | UCL > Provost and Vice Provost Offices UCL > Provost and Vice Provost Offices > UCL SLASH UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics |
| URI: | https://discovery.ucl.ac.uk/id/eprint/1470124 |
Archive Staff Only
 |
View Item |
