The housing market in the United Kingdom: effects of house price volatility on households

Disney, Richard and Chandler, Daniel (2014) The housing market in the United Kingdom: effects of house price volatility on households. Fiscal Studies, 35 (3). pp. 371-394. ISSN 1475-5890

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Abstract

This paper describes the economics of the housing market and explains why house prices are likely to be more volatile than prices in other markets. It illustrates the volatility of house prices relative to some other key economic variables in the UK. The paper then considers the implications of variability in house prices for household behaviour, surveying a number of studies for the UK and elsewhere on the effects of house price volatility on consumption spending, indebtedness, labour supply, and entry to and exit from the homeownership market.

Item Type: Article
Schools and Departments: School of Business, Management and Economics > Economics
Subjects: H Social Sciences > HB Economic theory. Demography > HB3711 Business cycles. Economic fluctuations
H Social Sciences > HG Finance > HG0179 Personal finance
Depositing User: Richard Disney
Date Deposited: 27 Aug 2014 08:59
Last Modified: 27 Aug 2014 08:59
URI: http://sro.sussex.ac.uk/id/eprint/49630
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