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Home Ownership, Savings, and Mobility Over The Life Cycle

Halket, Jonathan R and Vasudev, Santhanagopalan (2012) Home Ownership, Savings, and Mobility Over The Life Cycle. UNSPECIFIED. UNSPECIFIED.

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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 effect propensities to save and move, such as risky house values and transactions costs, are more important determinants of the ownership rate.

Item Type: Monograph (UNSPECIFIED)
Uncontrolled Keywords: HB;
Subjects: H Social Sciences > HB Economic Theory
Divisions: Faculty of Social Sciences > Economics, Department of
Depositing User: Jim Jamieson
Date Deposited: 17 Jul 2012 12:18
Last Modified: 17 Aug 2017 18:11
URI: http://repository.essex.ac.uk/id/eprint/2876

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