Life on the edge: a perspective on precarious home ownership in Australia and the UK

Wood, G, Smith, S, Cigdem, M and Ong, R 2015, 'Life on the edge: a perspective on precarious home ownership in Australia and the UK', International Journal of Housing Policy, vol. 17, no. 2, pp. 201-226.

Document type: Journal Article
Collection: Journal Articles

Title Life on the edge: a perspective on precarious home ownership in Australia and the UK
Author(s) Wood, G
Smith, S
Cigdem, M
Ong, R
Year 2015
Journal name International Journal of Housing Policy
Volume number 17
Issue number 2
Start page 201
End page 226
Total pages 26
Publisher Taylor and Francis
Abstract This paper focuses on two countries with debt-funded ownership-centred housing systems, Australia and the UK. Financially, there are similarities between these two societies, which have relatively 'complete', reasonably well-regulated mortgage markets, had limited exposure to the extremes of subprime, and have been pre-occupied with (and reasonably successful in) restoring 'business as usual' in housing and mortgage markets. Institutionally, however, the countries differ from each other, notably with respect to the size and function of the rented sectors. By modelling matched datasets from panel surveys in Australia and the UK, this paper considers how home-buying households in these financially similar, institutionally distinct, countries coped with the ups and downs of housing and mortgage markets in the first decade of the millennium. To address this, we focus on the edges of ownership: that once-stark boundary between owning and renting whose character is often taken for granted, yet which contains important signals about the functioning of housing systems, their link to the wider economy and the well-being of home occupiers. The analysis considers in hitherto unprecedented empirical detail how, why, when, for whom and in what way the edges of ownership proved precarious in the decade to 2010.
Subject Panel Data Analysis
Econometric and Statistical Methods
Keyword(s) edges of ownership
equity borrowing
home ownership
panel surveys
DOI - identifier 10.1080/14616718.2015.1115225
Copyright notice © 2015 Informa UK Limited, trading as Taylor & Francis Group
ISSN 1949-1255
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