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The past century and a quarter can be divided into three successive eras for homeownership policy characterization. For the first four decades, the federal government pursued a laissez-faire policy that left housing issues to the individual states and private markets. For the next six decades, the federal government implemented a policy created as part of the Roosevelt New Deal program. Finally, the Clinton administration discarded the New Deal policy in favor of a more aggressive policy that has continued to the present day. The purpose of this study is to compare the performance of the respective policies.

The study introduces two metrics. The first metric, based on government homeownership rate data, enables comparison of the laissez-faire and New Deal policies. The second metric, based on financial frictions in the mortgage market, enables comparison of the New Deal and Clinton policies.

Analysis based on the first metric suggests the New Deal policy was successful in meeting its macroeconomic objectives and was more effective overall than the laissez-faire policy. Analysis based on the second metric suggests the New Deal policy was also more successful in both respects than the Clinton policy.

The findings suggest that the Clinton homeownership policy was the primary driver behind the recent US housing crisis and that vulnerability in the secondary mortgage market created by the Clinton policy represents systemic housing market risk.

The study introduces simple analytical tools to address problems related to systemic risk in the US housing and housing finance markets due to homeownership policy.

The purpose of this paper is to explore the determinants of homeownership in Europe.

In this study, a logit model that predicts whether an individual is a homeowner or not was estimated. Wave 6 (2015) from the Survey of Health, Ageing and Retirement in Europe was used, through a sample of 46,003 respondents across all Europe and through four subsamples (Eastern, Southern, Northern and Western Europe).

The findings reveal that several factors influence homeownership, namely, geographic location, age, gender, number of children, marital status, job situation, household income, high education, years of education, political orientation and holding bonds, stocks, mutual funds, bank accounts, saving accounts, individual retirement account or life insurance. Different results were obtained when the four subsamples were considered.

The research findings provide an attempt to disentangle the main factors influencing homeownership. However, only individuals above 50 years of age were considered because of the database characteristics.

This paper provided insights to consider public policies that try to increase homeownership rates.

The results put in evidence the likelihood characteristics of a homeowner. Therefore, public policies should address those who do not fulfill those when promoting higher homeownership rates. For example, attention should be given to low and middle-income individuals.

The paper emphasised the characteristics of a homeowner in Europe, contributing to the discussion on this topic among policymakers, practitioners and researchers in Europe.

This study aims to address the critical need for innovative financing solutions in the global housing sector, focusing specifically on Malaysia’s distinct housing finance system encompassing both conventional and Islamic loans. The primary objective is to develop a transformative housing finance model that addresses affordability challenges and reshapes the Malaysian housing landscape.

The study presents an alternate housing finance model for Malaysia, integrating lower monthly payments and reduced household debt. Key variables include house price appreciation rates, interest rates, initial guarantee fees and loan-to-value ratios. Inspired by the Help to Buy (HTB) scheme, the model aligns with proven global initiatives for enhanced affordability, balancing payment amounts, loan interest rates and acceptable price thresholds.

The study’s findings promise to address affordability disparities and reshape Malaysia’s housing finance landscape. The emphasis is on introducing a structured repayment plan that offers a sustainable path to homeownership, particularly for low-income families. Incorporating the future value adaptation concept, inspired by reverse mortgages and Islamic finance, enhances adaptability, ensuring long-term sustainability despite economic shifts.

The proposed model promotes widespread access to homeownership, offering practical solutions for policymakers to improve affordability, prompting adaptable risk management strategies for financial institutions and empowering potential homebuyers with increased flexibility.

The study introduces a transformative housing finance model for Malaysia, merging elements from reverse mortgages, Islamic finance and the HTB scheme, offering potential applicability to similar systems globally.

The purpose of this paper is to examine the time-series dynamics of entrepreneurship rates for different race classifications based on household characteristics over the 1996 through 2013 period.

Using microdata from the Kauffman Foundation, this study investigates the roles of unemployment, homeownership, income, immigration, education, age, gender and marital status in relation to entrepreneurship rates for different race classifications through ridge regression analysis.

Results suggest that the time-series variation in entrepreneurship rates for different race classifications are variable-dependent, moreover, the economic and statistical significance of the candidate explanatory variables are sensitive to the time period under analysis. Unemployment, homeownership, education, age and marital status are significant variables for whites while unemployment, income, immigration and gender variables are significant for blacks. For the case of Native Americans and Asians, the candidate explanatory variables do not explain the time-series variation in entrepreneurship rates for the sample periods in this study.

This study exhibits implications for public policy in helping to promote entrepreneurship at the individual level and help stimulate entrepreneurial activity as a mechanism for promoting economic growth.

The findings suggest the importance of examining entrepreneurship rates across time based on race classifications. This study highlights the importance of conducting ridge regression analysis for different sub-periods in time when assessing entrepreneurship rates.

Shared equity homeownership is a form of subsidised, resale-restricted housing through which lower-income households can sustain their affordability. This paper aims to distinguish two types of affordability within shared equity homeownership: “entry affordability” indicates how affordable subsidised housing is when a household first becomes a subsidised owner; while “exit affordability” means how affordable private housing is after a household has enjoyed subsidised homeownership for a period of time.

Using price-to-income ratios, this study compares the entry and exit affordability of shared equity homeownership programs in Australia, Mainland China, Hong Kong, Norway, the UK and the USA. Based on these international comparisons, this study generalises two distinct types of shared equity homeownership models, namely, the models of “share-to-buy” and “share forever”. A new model, “follow-as-you-go”, is further suggested to increase the elasticity of potential affordable housing supply by providing incentives for existing subsidised homeowners to move.

A key finding of this study is that while shared equity homeownership programs can improve entry affordability, homeowners’ exit affordability is weak when subsidised homeowners have to share their capital gain with the government. While many housing policy discussions around the world that support shared equity homeownership focus only on the improvement of entry affordability, these discussions usually ignore the importance of exit affordability. This study attempts to fill the void in the understanding of these two types of affordability.

Shared equity homeownership policy is not only about offering low-income households but also an affordable housing option. It is also about facilitating well-off subsidised homeowners to move up the housing ladder so that the affordable housing option can be freed up for others in need. In a word, it is not only entry affordability but also exit affordability that matters.

This paper aims to propose a model for democratization of Islamic home financing to tackle the issue of sustainability of homeownership affordability.

A conceptual framework and fractional equity model (FEM) are developed to incorporate big data analytics, artificial intelligence and blockchain technology in an ecosystem for affordability and sustainability of homeownership via the proposed financing model. In addition, the FEM adopts the simulation approach to show its validity in terms of liquidity when compared with traditional home financing. In this regard, this paper is focused on developing and demonstrating the feasibility of a new financing model, rather than testing specific hypotheses or relationships. This is to propose the democratization model for Islamic Home Financing that will not benefit the prospective home buyers without compromising the profitability of the financial institutions.

The findings indicate that the proposed end-to-end solution within the financing ecosystem can lead to more efficient matching market between the buyers and sellers of houses, reduced transaction costs, greater transparency and enhanced efficiency which in the end could lead to lower costs of owning homes and sustained financial resilience among house owners. The findings indicate that the FEM model is able to increase homeownership with more elements of liquidity, marketability and sustainability for homebuyers.

This research highlights the potential of big data and blockchain technology in democratizing Islamic home financing and evidence that the transfer of ownership is possible through tokenization. However, this will require a mature financing environment to adapt the technology for practical application.

The model proposes a solution to propagate shared prosperity among stakeholders such as the house buyers/owners, sellers, investors as well the government agencies. The proposed FEM model provides alternative home financing that is more marketable, flexible and sustainable for households/buyers and financiers.

It is hoped that with the proposed financing ecosystem to promote affordability and sustainability of homeownership via big data analytics, artificial intelligence and blockchain technology can lead to greater financial resilience for homeowners which can then be translated to enhanced well-being, increased productivity and can further promote economic growth.

This research is a concept paper based on academic research and industry collaboration with a technology provider.

Homeownership for younger generations is exacerbated by the deterioration in affordability worldwide. As a result, the role of parental support in facilitating homeownership requires attention. This study aims to assess the influence of parental wealth and housing tenure as support mechanisms to facilitate homeownership for their children.

This study uses data from a representative survey of the New Zealand population.

Parents who are homeowners tend to offer more financial support to their children than those who rent. Additionally, the financial support increases when parents have investment housing as well. The results further reveal differences in financial support when considering one-child and multi-child families. The intergenerational transmission of wealth inequality appears to be more noticeable in multi-child families, where parental housing tenure plays a dominant role in determining the level of financial support provided to offspring.

The insights gained serve as a basis for refining housing policies to better account for these family transfers and promote equitable access to homeownership.

The 2007–2009 financial crisis initially appeared to have destroyed a huge amount of wealth in the United States. Housing prices dropped about 21% across the country and as much as 50% in some places, and the stock market dropped by nearly 50% as well. This chapter examines how the financial crisis differentially affected households at different parts of the income and wealth distributions. Our results show that all households lost about the same percentage of their wealth in that period. But because households in the top 10% of the wealth distribution owned many different kinds of assets, their wealth soon recovered. The bottom 80% of the wealth distribution had more of their wealth tied up in housing. We show that financial distress, indexed by foreclosures, being behind in mortgage payments, and changes in house prices were particularly concentrated in households in the bottom 80% of the wealth distribution. These households lost a large part of their wealth and have not yet recovered. Households that were most deeply affected were those who entered the housing market late and took out subprime loans. African American and Hispanic households were particularly susceptible as they bought houses late in the price bubble often with subprime loans.

This study aims to make two major contributions. First, given the literature gap in housing unaffordability for different immigrant groups in Canada, it makes an essential contribution to the literature. To the best of the knowledge, this study is the first study of its kind to examine housing unaffordability by examining different immigrant groups. Second, differences in unaffordability can help understand the decline in welfare, as it can have financial implications and a negative impact on health outcomes. Third, this study’s findings are valuable for policy formulation to improve immigrant integration and ease the housing unaffordability crisis.

This study examines the determinants of housing affordability to investigate differences among various immigrant groups in Canada. A bivariate logit model using public microdata from the Canadian census estimates the determinants of moderate and severe unaffordability. Additionally, the separation of tenants and owners provides insights into the dynamics of unaffordability. The results show significant differences between immigrant groups with higher levels of unaffordability among Asian immigrants. The insights can help devise and implement housing assistance programs to address the challenges arising from the post-COVID-19 pandemic phase.

The results indicate that unaffordability declines with increasing age, education and full-time employment. Gender dynamics are evident, with women faring worse than men regarding the likelihood of extreme housing unaffordability. Households face a greater likelihood of unaffordability in more populous provinces and larger census metropolitan areas that struggle with the high cost of living, racial disparities and low income. Immigrants, especially from Asia, Africa and the Middle East, continue to struggle with chronic and severe unaffordability issues. The impact is much more severe for those renting, exemplifying the strain it is taking on the financial health of recent immigrants.

Given the literature gap in housing unaffordability for different immigrant groups in Canada, it makes an essential contribution to the literature. To the best of the knowledge, this study is the first study of its kind to examine housing unaffordability by examining different immigrant groups.

This paper aims to examine the housing experiences of Fijian migrants in Auckland, New Zealand, in response to recent calls for greater attention to be given to the housing experiences of a wider range of migrant groups. The paper seeks to extend the understanding of the housing experiences of a migrant group that have the economic and social resources that are likely to see them achieve housing outcomes beyond the usual “niche” and limited segments of the housing market usually available to migrants.

This paper used a questionnaire survey designed to uncover the housing experiences and levels of satisfaction of Fijian migrants living in Auckland. Developing on the works of literature that have addressed ethnic residential segregation and migrant housing outcomes, this paper addresses the housing experiences of a well-established migrant community that possesses significant human capital (skills, education, English language proficiency) but occupies a hybrid cultural identity.

The majority of the 84 respondents had attained homeownership. Homeownership was prized for conveying a sense of “independence” and was aligned with notions of Fijian Indian culture. Both homeowners and renters expressed high levels of satisfaction with the locational attributes of their homes. While the majority of renters aspired to homeownership, a lack of affordable housing was noted. Homeowners recognised that they had benefitted from accessing homeownership when house prices were more affordable and believed that current and future migrants would struggle to buy a house in the Auckland housing market.

In the absence of a sampling frame, this research employed a purposive sampling technique that distributed questionnaires among Fijian migrant community groups and ethnic businesses. As the first study of its kind into the housing experiences of Fijian migrants in Auckland, the sample size (84 respondents) and geographical distribution of respondents was deemed sufficient to offer insights into the community’s housing experiences. The findings of this research could be used to develop a larger-scale analysis of the housing experiences of Fijian migrants in Auckland.

While considerable attention has been given to documenting the locational distribution of migrants in Auckland, this is the first study to examine the housing experiences of Fijian migrants. The paper adds to the understandings of the variety of migrant housing outcomes by focussing on the experiences of a well-established migrant group that possesses significant human capital and occupies a distinct ethnic position within Pacific migration flows.