Dematerialising money? Observations on the flow of wealth from housing to other things

Housing Studies

Volumn 23, Issue 1, 2008, Pages 21-43

  Smith, Susan J ^a   Searle, Beverley A ^a  

^a DURHAM UNIVERSITY   (United Kingdom)

Author keywords

Consumption; Housing wealth; Mortgage equity withdrawal; Owner occupation; Wealth effects

Indexed keywords

CAPITAL FLOW; CONSUMPTION BEHAVIOR; HOUSING; MORTGAGE LENDING;

EURASIA; EUROPE; UNITED KINGDOM; WESTERN EUROPE;

EID: 39049137935     PISSN: 02673037     EISSN: 14661810     Source Type: Journal    
DOI: 10.1080/02673030701731225     Document Type: Article

References (51)

1. Anderson, S. (2004) The CML Mortgage Market Manifesto: Taking the Past into the Future, Council of Mortgage Lenders, London
2. Aoki, K., Proudman, J. and Vleighe, G. (2002) Bank of England, London
3. Aron, J. and Muellbauer, J. (2006) Oxford University, Oxford
4. Attanasio, O., Blow, L., Hamilton, R. and Leicester, A. (2005) Bank of England, London
5. Banks, J., Blundell, R., Oldfield, Z. and Smith, J. P. (2004) Housing Wealth Over the Life Cycle in the Presence of House Price Volatility, National Bureau of Economic Research, Cambridge, MA
6. Barrell, R., Choy, A. and Riley, R. (2003) Consumption and housing wealth in the UK. National Institute Economic Review, 186, pp. 53-56.
7. Belsky, E. and Prakken, J. (2004) Housing Wealth Effects: Housing's Impact on Wealth Accumulation, Wealth Distribution and Consumer Spending, Joint Center for Housing Studies, Harvard University, Cambridge, MA
8. Benito, A. (2007) Bank of England, London
9. Benito, A. and Power, J. (2004) Housing equity and consumption: Insights from the Survey of English Housing. Bank of England Quarterly Bulletin, pp. 302-309.
10. Benito, A. and Wood, R. (2005) How important is housing market activity for durables spending?. Bank of England Quarterly Bulletin, pp. 153-159.
11. Benjamin, J. D., Chinloy, P. and Judd, G. D. (2004) Why do households concentrate their wealth into housing?. Journal of Real Estate Research, 26, pp. 329-343.
12. Berry, M. (2006) Housing Affordability and the Economy: A Review of Macroeconomic Impacts and Policy Issues, AHURI, Melbourne
13. Bridges, S., Disney, R. and Henley, A. (2006) Housing wealth and the accumulation of financial debt: Evidence from UK households. The Economics of Consumer Credit, pp. 135-180. MIT Press, Cambridge, MA
14. Campbell, J. Y. and Cocco, J. F. (2005) Do House Prices Affect Consumption? Evidence from Microdata, Harvard University and London Business School
15. Case, K. E., Quigley, J. and Shiller, R. (2005) Comparing wealth effects: The stock market versus the housing market. Advances in Macroeconomics, 5:1
16. Davey, M. (2001) Mortgage equity withdrawal and consumption. Bank of England Quarterly Bulletin, pp. 100-103.
17. Davey, M. and Earley, F. (2001) Mortgage Equity Withdrawal, Council of Mortgage Lenders, London
18. Deep, A. and Domanski, D. (2002) Housing markets and economic growth: lessons from the US refinancing boom. BIS Quarterly Review, pp. 37-45.
19. DETR (2000) Quality and Choice: A Decent Home for All, Department of the Environment, Transport and the Regions, London
20. DETR (2001) Private Sector Housing Renewal. Reform of the Housing Grants, Construction and Regeneration Act 1996, Local Government and Housing Act 1989 and the Housing Act 1985, Department of the Environment, Transport and the Regions, London
21. Di, Z. X., Yang, Y. and Liu, X. (2003)Harvard, Joint Center for Housing Studies, Cambridge, MA
22. Disney, R., Henley, A. and Jevons, D. (2002) House Price Shocks, Negative Equity and Household Consumption in the UK in the 1990s, University of Nottingham, Nottingham
23. Drayson, S. J. (1985) The housing finance market: Recent growth in perspective. Bank of England Quarterly Bulletin, 25, pp. 8-91.
24. Dvornak, N. and Kohler, M. (2003) Housing Wealth, Stock Market Wealth and Consumption: A Panel Analysis for Australia (Sydney: Economic Research Department, Reserve Bank of Australia)
25. Edelstein, R. H. and Lum, S. (2004) House prices, wealth effects and the Singapore macroeconomy. Journal of Housing Economics, 13, pp. 342-367.
26. Girouard, N. and Blondal, S. (2001) House prices and economic activity. Working Paper. OECD, Paris
27. Groves, R. and Sankey, S. (2005) Implementing New Powers for Private Sector Housing Renewal, Joseph Rowntree Foundation, York
28. Guerrero, A. M. (2003) Harvard University, Cambridge, MA
29. Gyourko, J. and Tracy, J. (2003) Using Home Maintenance and Repairs to Smooth Variable Earnings, 168
30. HM Treasury (2003) Housing, Consumption and EMU, Stationery Office, London
31. Holmans, A. E. (2001) Housing and Mortgage Equity Withdrawal and their Component Flows. A Technical Report, Council of Mortgage Lenders, London
32. Holmans, A. E. and Froszrega, M. (1997) Department of the Environment, London
33. Hurst, E. and Stafford, F. (2004) Home is where the equity is: Mortgage refinancing and household consumption. Journal of Money, Credit and Banking, 36, pp. 985-1014.
34. Iacoviello, M. (2003) Consumption, house prices and collateral constraints. Journal of Housing Economics, 13, pp. 304-320.
35. Langley, P. (2006) Securitising suburbia: The transformation of Anglo-American mortgage finance. Competition and Change, 10, pp. 283-299.
36. Lantz, C. and Sarte, P. (2001) Consumption, savings and the meaning of the wealth effect in general equilibrium. Economic Quarterly, 87, p. 3.
37. Lowe, S. (1990) Capital accumulation in home ownership and family welfare. Social Policy Review 1989-90, Longman, London
38. Lowe, S. (1992) Home ownership, wealth and welfare: New connections. Meeting Needs in an Affluent Society, Avebury, Aldershot
39. Maclennan, D. and Tu, Y. (1998) Changing housing wealth in the UK, 1985-1993: Household patterns and consequences. Scottish Journal of Political Economy, 45:4, pp. 447-465.
40. Muellbauer, J. Housing and personal wealth in a global context. Personal Assets from a Global Perspective, Oxford University Press, Oxford
41. ODPM (2002) The Stationery Office, London
42. ODPM (2003) Delivering Adaptations: Desk Guide, Office of the Deputy Prime Minister, London
43. Phang, S.-Y. (2003) House prices and aggregate consumption: Do they move together? Evidence from Singapore. Journal of Housing Economics, 13, pp. 101-119.
44. Schwartz, C., Hampton, T., Lewis, C. and Norman, D. (2006) A survey of housing equity withdrawal and injection in Australia. Reserve Bank of Australia Research Discussion Paper 2006-8.
45. Smith, J. (2003) Mortgage Equity Withdrawal: Evidence from CML Market Research, Council of Mortgage Lenders, London
46. Smith, J. and Vass, J. (2004) Mortgage equity withdrawal and remortgaging activity. Housing Finance, 63, pp. 22-33.
47. Smith, S. J. (2005) Banking on Housing? Speculating on the Role and Relevance of Housing Wealth in Britain. Inquiry into Home Ownership, 2010 and Beyond, Joseph Rowntree Foundation, York
48. Smith, S. J. (2006) Home ownership: Managing a risky business?. Home Ownership: Getting In, Getting From, Getting Out; Part II, IOS Press, Delft
49. Smith, S. J. (2008) Owner occupation: At home with a hybrid of money and materials. Environment and Planning A
50. Smith, S. J., Ford, J., Munro, M. and Davies, R. (2002) A Review of Flexible Mortgages, Council of Mortgage Lenders, London
51. Westaway, P. (1993) Mortgage equity withdrawal: Causes and consequences, National Institute of Economic and Social Research Discussion Paper 59.