The Blackwell Companion to the Economics of Housing: The Housing Wealth of Nations

Copyright © 2010 Blackwell Publishing Ltd

The Blackwell Companion to the Economics of Housing: The Housing Wealth of Nations

Editor(s): Susan J. Smith, Beverley A. Searle

Published Online: 29 APR 2010

Print ISBN: 9781405192156

Online ISBN: 9781444317978

DOI: 10.1002/9781444317978

About this Book

Product Information

About The Product

The Blackwell Companion to the Economics of Housing will help students and professionals alike to explore key elements of the housing economy: home prices, housing wealth, mortgage debt, and financial risk.

  • Features 24 original essays, including an editorial introduction and three section overviews
  • Includes 39 world-class authors from a mix of educational and financial organizations in the UK, Europe, Australia, and North America
  • Broadly-based, scholarly, and accessible, serving students and professionals who wish to understand how today's housing economy works
  • Profiles the role and relevance of housing wealth; the mismanagement of mortgage debt; and the pitfalls and potential of hedging housing risk
  • Key topics include: the housing price bubble and crash; the subprime mortgage crisis in the US and its aftermath; the links between housing wealth, the macroeconomy, and the welfare of home-occupiers; the mitigation of credit and housing investment risks
  • Specific case studies help to illustrate concepts, along with new data sets and analyses to illustrate empirical points

Table of contents

    1. You have free access to this content
      Front Matter (pages i–xxix)

    1. Chapter 1

      Introduction (pages 1–27)

      Susan J. Smith, Beverley A. Searle and Gareth D. Powells

  3. Part I: Banking on Housing

    1. You have free access to this content
      Part Introduction (pages 29–37)

    2. Chapter 2

      Housing and Mortgage Markets: An OECD Perspective (pages 38–57)

      Nathalie Girouard

    3. Chapter 3

      Is Housing Wealth an “ATM”?: International Trends (pages 58–81)

      Vladimir Klyuev and Paul Mills

    4. Chapter 4

      Housing Wealth Effects and Course of the US Economy: Theory, Evidence, and Policy Implications (pages 82–104)

      Eric S. Belsky

    5. Chapter 5

      The Rise in Home Prices and Household Debt in the UK: Potential Causes and Implications (pages 105–125)

      Matt Waldron and Fabrizio Zampolli

    6. Chapter 6

      Housing Wealth and Mortgage Debt in Australia (pages 126–146)

      Mike Berry

    7. Chapter 7

      A Survey of Housing Equity Withdrawal and Injection in Australia (pages 147–175)

      Carl Schwartz, Tim Hampton, Christine Lewis and David Norman

    8. Chapter 8

      What do we Know about Equity Withdrawal by Households in New Zealand? (pages 176–200)

      Mark Smith

    9. Chapter 9

      What Happened to the Housing System? (pages 201–224)

      Duncan Maclennan

  4. Part II: Housing Wealth as a Financial Buffer

    1. You have free access to this content
      Part Introduction (pages 225–237)

    2. Chapter 14

      “Pots of Gold”: Housing Wealth and Economic Wellbeing in Australia (pages 316–338)

      Val Colic-Peisker, Dr Guy Johnson and Susan J. Smith

    3. Chapter 15

      Housing Wealth as Insurance: Insights from the UK (pages 339–360)

      Beverley A. Searle and Susan J. Smith

    4. Chapter 16

      Housing to Manage Debt and Family Care in the USA (pages 361–380)

      Helen Jarvis

    5. Chapter 17

      The Subprime State of Race (pages 381–413)

      Elvin K. Wyly

    6. Chapter 18

      The Housing Finance Revolution (pages 414–445)

      Dr Richard K. Green and Dr Susan M. Wachter

  5. Part II: Housing Wealth As A Financial Buffer

    1. Chapter 10

      Trading on Housing Wealth: Political Risk in an Aging Society (pages 238–256)

      Mike Berry and Tony Dalton

    2. Chapter 11

      Housing Equity Withdrawal and Retirement: Evidence from the Household, Income, and Labor Dynamics in Australia Survey (HILDA) (pages 257–278)

      Gavin Wood and Dr Christian A. Nygaard

    3. Chapter 12

      Housing Market, Wealth, and “Self-Insurance” in Spain (pages 279–294)

      Joan Costa-Font, Joan Gil and Oscar Mascarilla

    4. Chapter 13

      Housing Wealth: A Safety Net of Last Resort? Findings from a European Study (pages 295–315)

      Deborah Quilgars and Anwen Jones

  6. Part III: Mitigating Housing Risks

    1. You have free access to this content
      Part Introduction (pages 447–458)

  7. Part III: Mitigating Housing Risk

    1. Chapter 19

      How Housing Busts End: Home Prices, User Cost, and Rigidities During Down Cycles (pages 459–480)

      Karl E. Case and John M. Quigley

    2. Chapter 20

      Is there a Role for Shared Equity Products in Twenty-First Century Housing? Experience in Australia and the UK (pages 481–498)

      Christine Whitehead and Judith Yates

    3. Chapter 21

      Trading on Home Price Risk: Index Derivatives and Home Equity Insurance (pages 499–511)

      Peter Englund

    4. Chapter 22

      Hedging Housing Risk: A Financial Markets Perspective (pages 512–555)

      Dr John Blank, John Edwards, Jonathan Reiss, Peter Sceats and Susan J. Smith

    5. Chapter 23

      Hedging Housing Risk: Is it Feasible? (pages 556–568)

      Dr Steve Swidler and Dr Harris Hollans

    6. Chapter 24

      Housing Risk and Property Derivatives: The Role of Financial Engineering (pages 569–584)

      Juerg Syz

    7. Chapter 25

      Housing Futures: A Role for Derivatives? (pages 585–607)

      Susan J. Smith

    1. You have free access to this content
      Index (pages 608–617)

SEARCH