Alfred Larm Teye
126 Pages
ISBN 978-94-63660-14-3
Published:
2018-03-06
Book (Full version)
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The rate of home-ownership has increased significantly in many countries over the past decades. One motivating factor for this increase has been the creation of wealth through the accumulation of housing equity, which also forms the basic tenet of the asset-based welfare system.
In generating the home equity, house price developments play an important role. Generally, house prices show an increasing trend over long time period, however, there are short-term negative appreciations...
Book Chapters
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The rate of home-ownership across Europe and in many countries has increased significantly in recent decades. This is partly because most governments have promoted home-ownership as part of an asset-based welfare system with the notion that home-ownership will generate wealth for households through the accumulation of housing equity. Changes in house prices play an important role in the generation of the housing equity and the wealth inherent in home-ownership. In general, house prices...
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Purpose: Risk in home-ownership from mortgage providers’ perspectives within the euro zone has received more attention than individual home owner’s perspectives in the literature following the financial crisis in 2007/2008. The purpose of this paper is to explore the risk factors in home-ownership from the individual household’s perspectives within the owner-occupied housing sector of the Netherlands.
Design/methodology/approach: The paper adopted a broader review...
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Following the 2007-08 Global Financial Crisis, there have been a growing research interest on the spatial interrelationships between house prices in many countries. This paper examines the spatio-temporal relationship between house prices in the twelve provinces of the Netherlands using a recently proposed econometric modelling technique called Bayesian graphical vector autoregression (BG-VAR). This network approach enables a data driven identification of the most dominant provinces where...
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Purpose: This paper examines the existence of the ripple effect from Amsterdam to the housing markets of other regions in the Netherlands. It identifies which regional housing markets are influenced by house price movements in Amsterdam.
Design/methodology/approach: The paper considers the ripple effect as a lead-lag effect and a long-run convergence between the Amsterdam and regional house prices. Using the real house prices for second-hand owner-occupied...
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This paper uses individual house transaction data from 1995 to 2014 in Amsterdam to explore the risks and interrelationships of the subdistrict house prices. Simple indicators suggest that house prices grow faster and are more risky in the central business district and its immediate surrounding areas than in the peripherals. Furthermore, we observe an over time decreasing inter-variations between the subdistrict house price growth rates, whereas we find a lead-lag and house price causal...
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The recent Global Financial Crisis has reawakened home-owners to the need for protecting their home-equities from possible future house price decline. This paper re-examines the Shiller and Weiss (1999) home-value insurance scheme and proposes a modification that eliminates a large proportion of the idiosyncratic sale price risks of residential properties. Using data between 1995 and 2014 for Amsterdam, the proposed insurance policy shows a higher pay-out efficiency, a higher loss coverage...
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Since the 2007-2008 Global Financial Crisis (GFC), a great deal of research has been conducted in various countries into the dynamics and risks associated with house prices in an attempt to find innovative ways of reducing these risks and resuscitating a depressed housing market. This dissertation contributes to that literature by providing comprehensive analyses of the spatial diffusion and risks associated with house prices in the Netherlands. It also studies the efficiency and loss...
