Author: Zhechun HePublisher:
ISBN:
Category :
Languages : en
Pages :
Book Description
The Role of Housing in Household Decision Making
Author: Zhechun HeHouseholds and Housing
Author: Frans DielemanPublisher: Routledge
ISBN: 1351515047
Category : Political Science
Languages : en
Pages : 372
Book Description
Residential relocation is the household decision that generates housing consumption changes. It is not merely a decision about changing locations; it is also a decision about tenure—about whether to own or to rent. Research into housing markets has been largely focused on the process of changing from renting to owning, as most countries in the Western world have moved from predominantly rental societies to societies of homeowners. Households and Housing is designed to demonstrate the interconnections between the housing stock and households. The focus is on understanding the demand for housing and the way in which the demand is fulfilled as households select housing. This book is concerned with both the decision to move one's residence and the resulting type of housing choice. The housing supply—the stock of dwellings—is the context within which households make choices and acquire housing. The authors use the concepts of life course, housing career, and housing hierarchy to trace the movement of households through the housing market. They paint a comprehensive picture of housing consumption by age, income, and tenure choice, illustrated with nearly 150 figures and tables. US housing market data are contrasted with data from the Netherlands to document the differential effects of government intervention. This is the most up-to-date analysis available on the dynamics of housing choices and housing markets.
Social Influence and Household Decision-making
Author: Michelle BaddeleyAn Examination of the Influence of Financial Interventions on Household Decision-Making in the U.S. Housing Market
Author: Purba MukerjiPublisher:
ISBN:
Category :
Languages : en
Pages : 21
Book Description
This paper investigates the impact of what the extant literature has come to view as some of the major causes of the 2007 US housing market crisis. In particular we investigate the hypothesized effect of, lax financial regulations, the “savings glut” that is invested in the US from abroad, government support for increased home ownership, rising homeowners' equity due to the real-estate boom, expansionary monetary policy, and bankruptcy reform. We examine how these hypothesized causes, working through household and institutional level decision-making, based on information availability and incentives, influenced the outcomes in the market for homes. Using a system dynamics model of household finance, we overlay the hypothesized causes chronologically to extrapolate their real-world simultaneous impact and test the hypothesis that they could have together led to the crisis, by simulating and checking against observed data. We find that with the exception of lax financial regulations, each cause by itself provides only a partial explanation of the crisis. Interestingly, the controversial expansionary monetary policy of the Federal Reserve, blamed by some for fueling the crisis, actually prevents the housing market boom from becoming too large. However on the downside, it discourages household savings and causes the fall in home prices to be deeper, due to weak household finances that result from low savings. We confront our model's assumptions and outcomes with US economic data. We find our model assumptions are justified and simulation results are strongly supported by the data.
Consequences of Household Decision Making Concerning Location for Housing and Transportation Expenditures
Author: Elsie Zea HertelEconomic and Social Status in Household Decision Making
Author: Chin-Oh ChangPublisher:
ISBN:
Category :
Languages : en
Pages : 24
Book Description
Models of the allocation of household resources use as a decision rule either the maximization of a household utility function (Becker, 1984) or the solution to a Nash-bargaining game (McElroy and Horney, 1981). To date the mobility literature has exclusively utilized the former approach to analyze the household's decision to change location. This is despite the strong empirical evidence that allocations in other areas are more consistent with the bargaining model. In this paper we use micro-data from Taipei, Taiwan to determine which approach is most appropriate for studying housing mobility decisions. We compare the mobility decisions of nuclear and different types of extended family households to test whether the social and economic roles of different generations affect the household decision process, as is consistent with the bargaining approach. In doing so, we analyze household mobility with a richer description of household structure than is found in the current literature, which implicitly treats households as either a nuclear family or some smaller unit. Our results support the bargaining model of household decision making. Conditional probabilities differ between nuclear and extended families, when a member of the eldest generation in an extended household is the household head, and when a member of the eldest generation contributes to household earnings.
The Domestic Domain
Author: Paul PennartzPublisher: Routledge
ISBN: 0429797176
Category : Social Science
Languages : en
Pages : 226
Book Description
First published in 1999, the primary focus of this book is what goes on inside the ‘black box’ of households, beginning with decision-making but branching out to develop a comprehensive view of the domestic domain. It brings together theoretical frameworks relevant to the study of family households from several root disciplines, each framework highlighting a different approach. Each approach is applied to important problems concerning the functioning of family households. The book focuses on households and their members as active agents who manage both material and immaterial resources. The private sector, to which family households belong, is not viewed as just responding to impulses from the formal economy and to public policies, but as a dynamic system in its own right. In the view of Paul Pennartz and Anke Niehof, households not only accommodate to social change but also mediate and generate social change. In the book key studies are presented which exemplify approaches and issues. The key studies cover a wide range of societies in Europe, North and Latin America, Asia and Africa, thus also exemplifying the comparative perspective, which is another important feature of the book. Pennartz and Niehof examine issues including the organisational approach and resource allocation, the power approach and the division of household production tasks and the opportunity structure approach and the housing market.
The Measurement and Analysis of Housing Preference and Choice
Author: Sylvia J.T. JansenPublisher: Springer Science & Business Media
ISBN: 9048188946
Category : Science
Languages : en
Pages : 272
Book Description
What are the current trends in housing? Is my planned project commercially viable? What should be my marketing and advertisement strategies? These are just some of the questions real estate agents, landlords and developers ask researchers to answer. But to find the answers, researchers are faced with a wide variety of methods that measure housing preferences and choices. To select and value a valid research method, one needs a well-structured overview of the methods that are used in housing preference and housing choice research. This comprehensive introduction to this field offers just such an overview. It discusses and compares numerous methods, detailing the potential limitation of each one, and it reaches beyond methodology, illustrating how thoughtful consideration of methods and techniques in research can help researchers and other professionals to deliver products and services that are more in line with residents’ needs.
The Role of Government in the Housing Market
Author: Publisher: UN-HABITAT
ISBN: 9211319978
Category : Housing policy
Languages : en
Pages : 109
Book Description
Behavioural Science and Housing Decision Making
Author: Helen BaoPublisher: Routledge
ISBN: 0429651317
Category : Architecture
Languages : en
Pages : 167
Book Description
This book takes a behavioural approach to examine six important housing questions: tenure decision, gentrification, place attachment, housing bubbles, housing wealth, and residential satisfaction. Using experimental and field data, the book demonstrates the effects of six behavioural biases and heuristics (i.e., anchoring and reference dependence, loss aversion, mental accounting, endowment effect, herd behaviours, and social comparison) on these housing decisions. The first part of the book introduces the questions and provides a behavioural science toolbox before the second part adopts a real-world case study approach. Real data sets and suggested answers are provided, and the cases come from the UK, USA, and China. Background information is given in each case to facilitate the understanding of the case data and question, as well as the discussions on the results. This book is ideal supplementary reading on a variety of courses such as housing studies, economics, real estate, research methods, and for students and academics who are interested in the application of behavioural science in housing decisions.