Rethinking the Risks of Home Ownership
Rethinking the Risks of Home Ownership
复制标题
重新思考住房所有权的风险
DOI：
10.1017/s0047279408002560
复制
发表时间：
2009
影响因子：
2
通讯作者：
Nicole Cook
中科院分区：
文献类型：
--
作者：
Susan J. Smith;B. Searle;Nicole Cook
摘要大多数关于房屋所有权和风险的争论都集中在抵押贷款债务的管理上。但在住房主导人们财富组合的环境中，购房者还面临其他风险：房地产的投资维度处于溢价状态;住房财富实际上是福利的资产基础。本文借鉴了定性研究与150英国抵押贷款持有人评估的性质，程度和可能减轻这种更广泛的风险制度。该分析首先探讨了购房者对住房财务回报的重视程度。接下来，我们将记录房屋净值被指定用途并用作财务缓冲的程度。最后，反思这一策略的优点和局限性，我们最后提出这样一个问题：为了住房和社会政策的利益，以及为了管理经济，是否有必要、有余地或有兴趣更积极地分担以业主自住为基础的住房系统的金融风险和投资收益。
Abstract Most debate on home ownership and risk has focused on the management of mortgage debt. But there are other risks for home buyers in settings where housing dominates people's wealth portfolios: where the investment dimensions of property are at a premium; and where housing wealth is, de facto, an asset base for welfare. This article draws from qualitative research with 150 UK mortgage holders to assess the character, extent and possible mitigation of this wider risk regime. The analysis first explores the value home buyers attach to the financial returns on housing. Next we document the extent to which home equity is earmarked and used as a financial buffer. Finally, reflecting on the merits and limitations of this tactic, we conclude by asking whether – in the interests of housing and social policy, as well as with a view to managing the economy – there is any need, scope or appetite for more actively sharing the financial risks and investment gains of housing systems anchored on owner-occupation.