Motivations for equity borrowing : a welfare-switching effect

Auteur(s) et Affiliation(s)

WOOD, G.

School of Global Studies, RMIT Univ., Melbourne, Australie

PARKINSON, S.

School of Global Studies, RMIT Univ., Melbourne, Australie

SEARLE, B.

Dept. of Geography and Sustainable Development, Univ., St Andrews, Royaume-Uni

SMITH, S.J.

Dept. of Geography, University of Cambridge, Cambridge, Royaume-Uni

Description :
This paper builds on a small but growing literature assigning a precautionary savings role to consumption fromhousing 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.

Type de document :
Article de périodique

Source :
Urban studies (Harlow), issn : 0042-0980, 2013, vol. 50, n°. 12, p. 2588-2607, nombre de pages : 20, Références bibliographiques : 3 p.

Date :
2013

Editeur :
Pays édition : Royaume-Uni, Harlow, Longman Group

Langue :
Anglais