Home Ownership: Getting in or Falling Out? (Housing and Urban Policy Studies)

Title page......Page 2
Contents......Page 8
Introduction......Page 12
Gains......Page 13
Losses......Page 20
Discussion......Page 23
The contribution of the chapters in this book......Page 24
Introduction......Page 30
Finnish housing markets and first time buyers......Page 31
First time buyers in 2001......Page 36
Comparison between first time buyers in 1992 and 2001......Page 38
Scope for housing policy?......Page 39
Conclusions......Page 42
Risk and home ownership......Page 44
Risk selection in the mortgage market......Page 48
The power of quantification......Page 49
Credit risk management......Page 51
Credit scoring......Page 53
Social-demographic data......Page 54
Acceptance policy and credit limits......Page 55
Difficulties and risk......Page 58
Conclusions......Page 62
Introduction......Page 70
Modelling the spot rate and the appropriate yield curve......Page 72
Estimation procedure......Page 75
Data......Page 76
Optimal mortgage choice strategies......Page 77
Results......Page 80
Discussion......Page 81
Modelling the costs and risk of mortgages......Page 84
Introduction......Page 86
A search for different forms of affordable and low-risk home ownership in four countries......Page 87
Further analysis of three Dutch tenures......Page 96
Conclusions......Page 101
Introduction......Page 106
Concept of affordability......Page 107
Measurement and modelling of affordability and access......Page 109
Affordability over space and time......Page 114
The intermediate market......Page 119
Concluding discussion......Page 123
Changing conditions and changing structures for owner-occupation......Page 128
Owner-occupation - an economic policy target......Page 129
Owner-occupation - the aspired form of tenure......Page 130
Owner-occupation data and the statistical sources......Page 131
Owner-occupation - the changing numbers and rates......Page 133
Owner-occupation - changes in quantities through structural policy and economic policy......Page 135
Owner-occupation - ups and downs in house prices......Page 138
Owner-occupier families' housing wealth/income ratios......Page 140
Owner-occupier's housing wealth/income ratios, by age......Page 143
Housing wealth/income ratios for young owneroccupies families......Page 145
Rates of change in housing wealth/income ratios during a bust and boom period......Page 147
How do people finance the increasingly expensive owner-occupied dwellings?......Page 150
Conclusion......Page 151
Introduction......Page 156
The Bank of England's measure of MEW......Page 157
The component flows of MEW......Page 158
Survey of English Housing data......Page 159
Average amounts of equity withdrawal over time......Page 162
Remortgagers and equity withdrawal......Page 163
Characteristics of remortgagers......Page 164
Serial remortgaging......Page 165
Are movers also remortgaging and withdrawing equity?......Page 167
Households' equity position......Page 168
Conclusion......Page 169
Introduction......Page 172
Review of factors affecting educational attainment......Page 173
Methodology......Page 180
Results of modelling......Page 185
Concluding discussion......Page 192
Introduction......Page 198
Context: The owner-occupied sector of the German housing market......Page 199
Number of compulsory auctions involving owner-occupied homes......Page 201
Home owners: financial background and reasons for payment difficulties......Page 204
The basis for many difficulties......Page 206
Perception of arising payment difficulties......Page 208
Steps towards successfully restoring financial soundness and deficiencies in practice......Page 209
Recommendations......Page 211
Conclusion......Page 213
Contributors......Page 216