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1 – 10 of 293
Article
Publication date: 14 May 2018

Du Lijing, Jian Huang, Daniel Singer and Gokhan Torna

The purpose of this paper is to investigate the impact of social and economic factors on home ownership as an investment in American urban areas.

Abstract

Purpose

The purpose of this paper is to investigate the impact of social and economic factors on home ownership as an investment in American urban areas.

Design/methodology/approach

The authors run a spatial analysis using home ownership data on 817 American counties from US Census Bureau’s 2013 American Community Survey.

Findings

While the amenity value of home ownership is found to be important to overall housing tenure decisions, it is found to be less so for the ownership cohort without mortgages. Economic factors are found to impact the spatial pattern of owner-occupied housing without mortgage differently than that of all owner-occupied housing. The implications of these differences for investors are explored.

Research limitations/implications

The results may lack generalizability outside of the American urban areas.

Practical implications

As a result of the findings of this study, a shift in investor focus from minimizing initial housing costs to sustainable housing costs is recommended.

Originality/value

This study provides insights into the social and economic dimensions of owner-occupied housing in order to create a more profitable investing policy for promoting home ownership.

Details

International Journal of Social Economics, vol. 45 no. 5
Type: Research Article
ISSN: 0306-8293

Keywords

Book part
Publication date: 9 April 2008

Urban Fransson and Matias Eklöf

Concerning migration on a national level, two phenomena emerge: people migrating from one region to another and people moving from the countryside to the cities. The…

Abstract

Concerning migration on a national level, two phenomena emerge: people migrating from one region to another and people moving from the countryside to the cities. The geographical shift of the population between regions in a country is a slow process. In Sweden, only a few percent of the population migrate yearly. Nevertheless, migration has caused and still causes considerable redistribution of the population toward the metropolitan regions in Sweden. This section will emphasize general trends in population concentration through urbanization and migration in Sweden and compare these trends with changes in other countries.

Details

Simulating an Ageing Population: A Microsimulation Approach Applied to Sweden
Type: Book
ISBN: 978-0-444-53253-4

Article
Publication date: 27 December 2021

Braam Lowies, Graham Squires, Peter Rossini and Stanley McGreal

The purpose of this paper is to first explore whether Australia and the main metropolitan areas demonstrate significant differences in tenure and property type between…

Abstract

Purpose

The purpose of this paper is to first explore whether Australia and the main metropolitan areas demonstrate significant differences in tenure and property type between generational groups. Second, whether the millennial generation is more likely to rent rather than own. Third, if such variation in tenure and property type by millennials is one of individual choice and lifestyle or the impact of housing market inefficiencies.

Design/methodology/approach

This paper employs a comparative research approach using secondary data from the Australian Bureau of Statistics (ABS) to consider housing tenure and type distributions across generations as well as through cross-city analysis.

Findings

The results show that home ownership is still the dominant tenure in Australia, but private rental is of increasing significance, becoming the tenure of choice for Millennials. Owner occupation is shown to remain and high and stable levels for older generations and while lower in percentage terms for Generation X; this generation exhibits the highest growth rate for ownership. Significant differences are shown in tenure patterns across Australia.

Originality/value

The significance of this paper is the focus on the analysis of generational differences in housing tenure and type, initially for Australia and subsequently by major metropolitan areas over three inter-census periods (2006, 2011 and 2016). It enhances the understanding of how policies favouring ageing in place can contradict other policies on housing affordability with specific impact on Millennials as different generations are respectively unequally locked-out and locked-in to housing wealth.

Details

Property Management, vol. 40 no. 4
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 1 April 1985

P.J. Welham

The article looks at the different distributional patterns of two alternative ways of reforming relief for owner‐occupation in UK, namely the reintroduction of income tax…

Abstract

The article looks at the different distributional patterns of two alternative ways of reforming relief for owner‐occupation in UK, namely the reintroduction of income tax on imputed rent (the optimal reform, assuming housing is an investment good) or the withdrawal of tax relief for mortgage interest payments (possibly the more likely political reform). Inland Revenue data show that removal of mortgage interest relief (exclusive of the Option Mortgage) would be the more progressive measure. Removal of relief at higher rates of tax would be one possible step on the road to reform of mortgage interest.

Details

Journal of Economic Studies, vol. 12 no. 4
Type: Research Article
ISSN: 0144-3585

Article
Publication date: 1 October 2006

Martin Livette

In this paper culture is considered by marketers to have a profound influence on consumer behaviour, yet explanations of tenure preference ignore or dismiss culture as a…

1194

Abstract

Purpose

In this paper culture is considered by marketers to have a profound influence on consumer behaviour, yet explanations of tenure preference ignore or dismiss culture as a factor underlying such preferences. This paper therefore aims to examine the attitudes of retirement housing purchasers to tenure, the effect of culture on these attitudes, and contrast some of the results of the research.

Design/methodology/approach

In the paper data were collected by questionnaire. A sample of about 200 respondents was selected from all purchasers of retirement housing in the West Midlands region of the UK.

Findings

The findings in this paper demonstrate that culture is an important factor affecting retirement housing purchasers' attitudes to housing tenure and that home ownership is part of their way of life.

Originality/value

It is argued in this paper that culture cannot be dismissed or ignored when debating the tenure preferences of older people and the factors affecting these preferences; and that it is probably the prime factor underlying a “natural preference” for home ownership.

Details

Property Management, vol. 24 no. 5
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 15 March 2019

Abdulkader Mostafa and Colin Anthony Jones

The UK experienced a substantial rise in owner occupation over the twentieth century, and many tenants still aspire to homeownership. These strong aspirations to own are…

Abstract

Purpose

The UK experienced a substantial rise in owner occupation over the twentieth century, and many tenants still aspire to homeownership. These strong aspirations to own are attributed to a set of financial and non-financial benefits. This paper aims to calculate, for the first time, the financial returns from buying versus renting in Britain for first-time buyers in 11 regions.

Design/methodology/approach

It applies a DCF approach based on historical housing and mortgage market data from 1975 to 2012.

Findings

The paper finds strong evidence that, in purely financial terms, buying has been always superior to renting in all regions of the UK over the period.

Practical implications

It gives a clear message of the financial benefits of homeownership over renting in Britain, even over very short time periods.

Originality/value

The paper is the first to apply a comprehensive DCF model to the choice between renting and owning.

Details

Journal of European Real Estate Research, vol. 12 no. 1
Type: Research Article
ISSN: 1753-9269

Keywords

Article
Publication date: 1 March 2000

John R. Mansfield

The residential private rented sector (PRS) has the potential to make a significant contribution to the housing needs of the future. The PRS benefited from regulatory…

2063

Abstract

The residential private rented sector (PRS) has the potential to make a significant contribution to the housing needs of the future. The PRS benefited from regulatory changes in the late 1980s that removed fetters to rent levels and tenancy length. The historic under‐investment is being re‐evaluated and the PRS is beginning to emerge as a viable corporate and institutional investment vehicle. The strategic assembly of portfolios, which may be highly specialised or more general, can be identified from published demographic forecasts. Finance for new‐build, refurbishment and bulk acquisition can be sourced from specialist residential investment funds. The overall effect of these measures is beginning to make the PRS a reinvigorated investment opportunity with long‐term potential.

Details

Property Management, vol. 18 no. 1
Type: Research Article
ISSN: 0263-7472

Keywords

Article
Publication date: 4 October 2011

Christine Whitehead and Sarah Monk

The purpose of this paper is to explore the role of affordable home ownership in the light of the recent global financial crisis.

1204

Abstract

Purpose

The purpose of this paper is to explore the role of affordable home ownership in the light of the recent global financial crisis.

Design/methodology/approach

The paper draws on recent research conducted by the authors and others which included analysis of secondary data and policy documents and interviews with key stakeholders including housing associations and developers. The theoretical scope of the paper is outlined in the first section which looks at the principles behind the two main approaches to providing affordable home ownership: shared equity and shared ownership. Given continuing aspirations on the part of most households in England to become home owners, the key comparison is with the attributes of full ownership.

Findings

The paper finds that the main products share many of the attributes of full home ownership while remaining more affordable. The economic situation post‐2007 made both shared ownership and shared equity more difficult. The crisis and its aftermath also suggest that there is a need to develop a more robust and longer term market in equity sharing. This could be of real significance into the longer term, especially if the availability of mortgage finance remains constrained for many years to come. The paper concludes that in the longer term, developing a range of partial tenures which provide most of the benefits of owner‐occupation but which reduce risks to individual households and improve affordability in the early years is a desirable strategy.

Practical implications

There are clear implications for policy makers in other countries, notably the benefits from developing an intermediate tenure market which includes institutional equity and risk taking rather than continued large‐scale reliance on debt finance.

Originality/value

Given stated governmental ambitions to meet housing aspirations, this paper clarifies how it is possible to meet an identified need for affordable home ownership products to fill the growing “gap” between first‐time buyers who can purchase with parental help and those who have no means of achieving home ownership, even though they have the income to support such a choice.

Details

International Journal of Housing Markets and Analysis, vol. 4 no. 4
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 6 March 2009

Sarah Monk

The purpose of this paper is to examine whether the continuing decline of the social rented sector in England implies increased residualisation of the sector, to estimate…

1071

Abstract

Purpose

The purpose of this paper is to examine whether the continuing decline of the social rented sector in England implies increased residualisation of the sector, to estimate who is likely to be living in social housing in the future, and to explore the policy implications in terms of the future role of social housing.

Design/methodology/approach

The paper addresses these aims by analysing secondary data on the characteristics of current tenants and changes in these as the sector has become smaller. It applies the results of this analysis to demographic projections to determine the likely future profile of social housing tenants and to assess the implications of this for the future management of the sector.

Findings

Analysis results suggest that the sector will house three main groups of households in the future: those for whom it provides a secure home for life; those for whom it is a temporary tenure; and a smaller group who enter for the first time in old age.

Research limitations/implications

The main limitation of this approach is that it assumes that the future will be like the past, whereas changes in policy and economic circumstances could produce a different outcome. However, recent trends reflect the outcomes of economic variables and policy changes take time to have an impact, therefore the analysis has practical applications in the short term.

Originality/value

The method, findings and policy implications in this paper all provide value for policy makers, as well as contributing to the wider debate about the role of social rented housing.

Details

International Journal of Housing Markets and Analysis, vol. 2 no. 1
Type: Research Article
ISSN: 1753-8270

Keywords

Article
Publication date: 1 June 1994

Peter Gregory

Comparative studies of social policy in general, and housing is no exception, are always fraught with difficulties. There are very few attempts which entirely manage to…

Abstract

Comparative studies of social policy in general, and housing is no exception, are always fraught with difficulties. There are very few attempts which entirely manage to escape both of the major traps. On the one hand is the danger of drifting into an abstract empiricism which can end up concentrating on such factors as the details of subsidy systems or the precise percentages of income which people pay for housing in various countries. At best this becomes numbingly boring and at worst (for example where payment or subsidy figures are described in local currency terms without indicating exchange rates) incomprehensible.

Details

International Journal of Sociology and Social Policy, vol. 14 no. 6/7
Type: Research Article
ISSN: 0144-333X

1 – 10 of 293