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House Prices, Second Mortgages and Household Savings; An Empirical Investigation for the Netherlands, 1987-1994
Rouwendal, Jan; Alessie, Rob - Tinbergen Institute - 2002
paper we study the effect of this development on the demand for second mortgages and on the savings of Dutch households. We … investigate the effect of house prices on (i) the number and size of second mortgages, (ii) the savings of owner-occupiers and … demand for second mortgages. Savings of homeowners decrease when house prices accelerate. We find no evidence that inc …
Persistent link: https://www.econbiz.de/10005144443
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House Prices, Second Mortgages and Household Savings; An Empirical Investigation for the Netherlands, 1987-1994
Rouwendal, Jan; Alessie, Rob - Tinbergen Instituut - 2002
paper we study the effect of this developmenton the demand for second mortgages and on the savings of Dutch households. We … investigatethe effect of house prices on (i) the number and size of second mortgages, (ii) the savingsof owner-occupiers and (iii … for second mortgages.Savings of homeowners decrease when house prices accelerate. We find no evidence that inc …
Persistent link: https://www.econbiz.de/10011256325
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Mortgage Product Innovation in Advanced Economies: More Choice, More Risk
Scanlon, Kathleen; Lunde, Jens; Whitehead, Christine - In: European Journal of Housing Policy 8 (2008) 2, pp. 109-131
has worsened. It is in this context that the standard annuity mortgage is increasingly being supplanted by mortgages with … a standard product. Moreover, such mortgages can also be more risky: the interest-only borrower does not accumulate … market share of mortgages with these new features. It analyses trends over the last ten years and discusses the risks of …
Persistent link: https://www.econbiz.de/10005483183
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Mortgage product innovation in advanced economies: more choice, more risk
Scanlon, Kathleen; Lunde, Jens; Whitehead, Christine M. E. - London School of Economics (LSE) - 2008
has worsened. It is in this context that the standard annuity mortgage is increasingly being supplanted by mortgages with … a standard product. Moreover, such mortgages can also be more risky: the interest-only borrower does not accumulate … market share of mortgages with these new features. It analyses trends over the last ten years and discusses the risks of …
Persistent link: https://www.econbiz.de/10010745801
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Mortgage Product Innovation in Advanced Economies: More Choice, More Risk
Scanlon, Kathleen; Lunde, Jens; Whitehead, Christine - In: International Journal of Housing Policy 8 (2008) 2, pp. 109-131
has worsened. It is in this context that the standard annuity mortgage is increasingly being supplanted by mortgages with … a standard product. Moreover, such mortgages can also be more risky: the interest-only borrower does not accumulate … market share of mortgages with these new features. It analyses trends over the last ten years and discusses the risks of …
Persistent link: https://www.econbiz.de/10009221742
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Más nos mojaríamos sin paraguas... pero de todos modos sufrimos una fuerte tormenta: La crisis del 2007-200? en América Latina y Costa Rica
Echeverría, Rodríguez; Ángel, Miguel - In: Revista de Ciencias Económicas 26 (2008) 06
El estallido de la burbuja residencial en los Estados Unidos, a principios del 2007, rápidamente afecto al sector financiero no bancario y a los nuevos instrumentos crediticios y de seguros que se habían desarrollado al margen de las regulaciones nacionales e internacionales. Su efecto se...
Persistent link: https://www.econbiz.de/10010961268
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No Place Like Home: Older Adults and Their Housing
Smeeding, Timothy; Torrey, Barbara Boyle; Fisher, Jonathon - Center for Retirement Research (CRR), Boston College - 2006
mortgages. Housing consumption-flows increase with age; non-housing consumption-flows decline after age 60 at a rate of …Objectives: This paper employs new data on the consumption and assets of older Americans to investigate recent research … findings that older adults do not convert their home equity into income that can be used for current consumption, as the life …
Persistent link: https://www.econbiz.de/10005627479
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Household Debt and Social Interactions
Georgarakos, Dimitris; Haliassos, Michalis; Pasini, Giacomo - C.E.P.R. Discussion Papers - 2012
Debt-induced crises, including the subprime crisis, are usually attributed exclusively to supply-side factors. We examine the role of social influences on debt culture, emanating from perceived average income of peers. Utilizing unique information from a household survey, representative of the...
Persistent link: https://www.econbiz.de/10011084156
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The macro-financial implications of house price-indexed mortgage contracts
Hull, Isaiah - In: Economics Letters 127 (2015) C, pp. 81-85
I explore an alternative mortgage contract that limits negative equity by tying outstanding debt to an index of house prices. This is done in an incomplete markets model, that is calibrated to match US micro- and macro-data. I find that switching from a non-recourse contract to an indexed...
Persistent link: https://www.econbiz.de/10011189528
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The Macro-Financial Implications of House Price-Indexed Mortgage Contracts
Hull, Isaiah - Sveriges Riksbank - 2014
A standard, no-recourse mortgage contract does not adjust when the value of the underlying collateral falls. Consequently, shocks that lower house prices may trigger one of the necessary conditions for default: negative equity. A common alternative contract attempts to prevent default by...
Persistent link: https://www.econbiz.de/10010945082