Over the past two decades a number of countries have experienced an increase in house prices at the same time that aggregate consumption has been observed to increase. Alternative hypotheses have been put forward to explain this pattern. In this paper we test these hypotheses by using repeated...

Australia has exhibited a remarkably stable home-ownership rate of 70 per cent for over thee decades. However, this paper questions whether this rate is sustainable. Decomposition techniques based on tenure choice models are used to provide evidence of changing homeownership patterns in...

This paper critically evaluates reforms which have been proposed to counter the effects of the growing imbalance between direct and indirect assistance for housing. It proposes a radical restructuring of assistance based on a form of support which enables the shelter and asset components of...