Demographic Change And Housing Wealth
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Demographic Change And Housing Wealth
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Author : John Doling
language : en
Publisher: Springer Science & Business Media
Release Date : 2012-08-11
Demographic Change And Housing Wealth written by John Doling and has been published by Springer Science & Business Media this book supported file pdf, txt, epub, kindle and other format this book has been release on 2012-08-11 with Social Science categories.
Across the EU, populations are shrinking and ageing. An increasing burden is being placed on a smaller working population to generate the taxes required for pensions and care costs. Welfare states are weakening in many countries and across Europe, households are being increasingly expected to plan for their retirement and future care needs within this risky environment. At the same time, the proportion of people buying their own home in most countries has risen, so that some two-thirds of European households now own their homes. Housing equity now considerably exceeds total European GDP. This book discusses questions like: to what extent might home ownership provide a potential cure for some of the consequences of ageing populations by realizing housing equity in order to meet the consumption needs of older people? What does this mean for patterns of inheritance and longer-term inequalities across Europe? And to what extent are governments banking on their citizens utilising their housing wealth now and in the future?
The Impact Of Demographics On Housing And Non Housing Wealth In The United States
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Author : Hilary Williamson Hoynes
language : en
Publisher:
Release Date : 1994
The Impact Of Demographics On Housing And Non Housing Wealth In The United States written by Hilary Williamson Hoynes and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with Home ownership categories.
Equity in housing is a major component of household wealth in the United States. Steady gains in housing prices over the last several decades have generated large potential gains in household wealth among homeowners. Mankiw and Weil (1989) and McFadden (1993b) have argued that the aging of the US population is likely to induce substantial declines in housing prices, resulting in capital losses for future elderly generations. However, if households can anticipate changes in housing prices, and if they adjust their non-housing savings accordingly, then welfare losses in retirement could be mitigated. This paper focuses on two questions: (1) Are housing prices forecastable from current information on demographics and housing prices?; and (2) How are household savings decisions affected by capital gains in housing? We use metropolitan statistical area (MSA) level data on housing prices and demographic trends during the 1980's and find mixed evidence on the forecastability of housing prices. Further, we use data on five-year savings rates from the Panel Study of Income Dynamics and find no evidence that households engage in changing their non-housing savings in response to expectations about capital gains in housing. Thus, the projected decline in housing prices could result in large welfare losses to current homeowners and large intergenerational equity differences
The Impact Of Demographics On Housing And Non Housing Wealth In The United States
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Author : Hilary Williamson Hoynes
language : en
Publisher:
Release Date : 2009
The Impact Of Demographics On Housing And Non Housing Wealth In The United States written by Hilary Williamson Hoynes and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 2009 with categories.
Equity in housing is a major component of household wealth in the United States. Steady gains in housing prices over the last several decades have generated large potential gains in household wealth among homeowners. Mankiw and Weil (1989) and McFadden (1993b) have argued that the aging of the US population is likely to induce substantial declines in housing prices, resulting in capital losses for future elderly generations. However, if households can anticipate changes in housing prices, and if they adjust their non-housing savings accordingly, then welfare losses in retirement could be mitigated. This paper focuses on two questions: (1) Are housing prices forecastable from current information on demographics and housing prices?; and (2) How are household savings decisions affected by capital gains in housing? We use metropolitan statistical area (MSA) level data on housing prices and demographic trends during the 1980's and find mixed evidence on the forecastability of housing prices. Further, we use data on five-year savings rates from the Panel Study of Income Dynamics and find no evidence that households engage in changing their non-housing savings in response to expectations about capital gains in housing. Thus, the projected decline in housing prices could result in large welfare losses to current homeowners and large intergenerational equity differences.
The Role Of Urban Wealth Housing Investment And Demographic Change In Economic Growth
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Author :
language : en
Publisher:
Release Date : 1994
The Role Of Urban Wealth Housing Investment And Demographic Change In Economic Growth written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1994 with categories.
Analyzing The Effects Of Financial And Housing Wealth On Consumption Using Micro Data
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Author : Carlos Caceres
language : en
Publisher: International Monetary Fund
Release Date : 2019-05-24
Analyzing The Effects Of Financial And Housing Wealth On Consumption Using Micro Data written by Carlos Caceres and has been published by International Monetary Fund this book supported file pdf, txt, epub, kindle and other format this book has been release on 2019-05-24 with Business & Economics categories.
This paper analyzes the existence of “wealth effects” derived from net equity (in the form of housing, financial assets, and total net worth) on consumption. The study uses longitudinal household-level data?from the Panel Study of Income Dynamics (PSID) ?covering about 7,000-9,000 households in the U.S., with the estimations carried over the period 1999-2017. Overall, wealth effects are found to be relatively large and significant for housing wealth, but less so for other types of wealth, including stocks. Furthermore, the analysis shows how these estimated marginal propensities to consume (MPC) from wealth are closely linked to household characteristics, including income and demographic factors. Finally, underlying structural changes in household characteristics point to potentially lower aggregate MPCs from wealth going forward.
Essays On Housing And Pensions
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Author : Thomas Müller
language : en
Publisher: Springer
Release Date : 2018-12-28
Essays On Housing And Pensions written by Thomas Müller and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-12-28 with Business & Economics categories.
Demographic trends put a burden on EU pension provision. As the sustainability of pension systems is addressed by current pension reforms, lower benefit levels are projected. In this scenario, households may want to consider supplementing their public pension income. As their own residence is on average their most valuable asset, its transformation to income can be one form of alleviating financial distress in old age. Thomas Müller presents research findings on the interdependency of housing and pension wealth as well as on whether and to what extent housing wealth is decumulated after retirement. The author emphasizes the consideration of housing wealth in pension policies to enable European households to employ its housing asset as an income source in old age. About the Author Thomas Müller wrote his dissertation at the Real Estate Management Institute (REMI) at the EBS Business School. His research was motivated by the effects of demographic changes on pension provision in the EU. He focused especially on the allocation and liquidation of private housing wealth as a public pension supplement.
Housing And Life Course Dynamics
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Author : Rory Coulter
language : en
Publisher: Policy Press
Release Date : 2023-05-18
Housing And Life Course Dynamics written by Rory Coulter and has been published by Policy Press this book supported file pdf, txt, epub, kindle and other format this book has been release on 2023-05-18 with Law categories.
Deepening inequalities and wider processes of demographic, economic and social change are altering how people across the Global North move between homes and neighbourhoods over the lifespan. This book presents a life course framework for understanding how the changing dynamics of people’s family, education, employment and health experiences are deeply intertwined with ongoing shifts in housing behaviour and residential pathways. Particular attention is paid to how these processes help to drive uneven patterns of population change within and across neighbourhoods and localities. Integrating the latest research from multiple disciplines, the author shows how housing and life course dynamics are together reshaping 21st-century inequalities in ways that demand greater attention from scholars and public policy makers.
Demographic Change Household Evolution And The Housing Market
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Author :
language : en
Publisher:
Release Date : 1988
Demographic Change Household Evolution And The Housing Market written by and has been published by this book supported file pdf, txt, epub, kindle and other format this book has been release on 1988 with categories.
Housing Care And Inheritance
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Author : Misa Izuhara
language : en
Publisher: Routledge
Release Date : 2008-09-30
Housing Care And Inheritance written by Misa Izuhara and has been published by Routledge this book supported file pdf, txt, epub, kindle and other format this book has been release on 2008-09-30 with Architecture categories.
Housing, Care and Inheritance draws on the author’s long-standing research into housing issues surrounding the ageing society, a phenomenon which is now a concern in many mature economies. If an adult child provides care for their elderly parent, should that person be rewarded? If so, should they inherit their parent’s house or a larger share of the assets? The ‘generational contract’ is often influenced by cultural norms, family traditions, social policy and housing market, so it is negotiated differently in different societies and at different times. Such generational contract is however breaking down as a result of socio-economic and demographic changes. Drawn from the two-part study funded by the UK Economic & Social Research Council, Misa Izuhara explores the myth and the changing patterns of the particular exchange of long-term care and housing assets between older parents and their adult children in Britain and Japan. Highly international and comparative in perspectives, this study addresses important sociological as well as policy questions regarding intergenerational relations involving housing wealth, long-term care, and inheritance.
Wealth And Homeownership
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Author : Mariacristina Rossi
language : en
Publisher: Springer
Release Date : 2018-08-27
Wealth And Homeownership written by Mariacristina Rossi and has been published by Springer this book supported file pdf, txt, epub, kindle and other format this book has been release on 2018-08-27 with Business & Economics categories.
In almost every country, wealth is predominantly constituted by housing equity, but what are the possible risks and how does wealth accumulation vary across countries? In this timely book, Rossi and Sierminska analyse the complex relationship between gender, wealth and homeownership. By providing a conceptual framework to insert homeownership and housing decisions within an economic rationale, the authors explore how gender and family types have shaped wealth accumulation and homeownership.