Home Equity, Fungibility, and Consumption: The Increasing Rationalization of Society

The article argues that home equity borrowing is an instance of Max Weber's concept of increasing rationalization of society. The dramatic growth in U.S. home equity borrowing is associated with an increasingly fungible orientation to the home, in which a significant portion of this borrowing is used to fund additional spending on consumer goods. Survey data are used to support the notion that rationalization is spread by a process of diffusion.

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Year of publication:	2007
Authors:	Redmond, William H.
Published in:	Review of Radical Political Economics. - Union for Radical Political Economics. - Vol. 39.2007, 2, p. 201-213
Publisher:	Union for Radical Political Economics
Subject:	consumption \| home equity \| diffusion \| fungibility \| rationalization

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Extent:	text/html
Type of publication:	Article
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010796844