The Blackwell Companion to the Economics of Housing: The Housing Wealth of Nations / Edition 1 available in Hardcover
- Pub. Date:
The Blackwell Companion to the Economics of Housing willhelp students and professionals alike to explore key elements ofthe housing economy: home prices, housing wealth, mortgage debt,and financial risk.
- Features 24 original essays, including an editorialintroduction and three section overviews
- Includes 39 world-class authors from a mix of educational andfinancial organizations in the UK, Europe, Australia, and NorthAmerica
- Broadly-based, scholarly, and accessible, serving students andprofessionals who wish to understand how today’s housingeconomy works
- Profiles the role and relevance of housing wealth; themismanagement of mortgage debt; and the pitfalls and potential ofhedging housing risk
- Key topics include: the housing price bubble and crash; thesubprime mortgage crisis in the US and its aftermath; the linksbetween housing wealth, the macroeconomy, and the welfare ofhome-occupiers; the mitigation of credit and housing investmentrisks
- Specific case studies help to illustrate concepts, along withnew data sets and analyses to illustrate empirical points
|Series:||Blackwell Companions to Contemporary Economics Series , #10|
|Product dimensions:||7.10(w) x 9.80(h) x 1.70(d)|
About the Author
Susan J. Smith is Mistress of Girton College Cambridge. Shewas previously Professor of Geography and a Director of theInstitute of Advanced Study at Durham University. She is a graduateof Oxford University (MA, DPhil), a Fellow of the British Academyand of the Royal Society of Edinburgh, an Academician of theAcademy of Social Sciences and a member of the Society of Authors.Professor Smith has published over 100 scholarly papers coveringtopics that range from residential segregation to healthdiscrimination, from mortgage equity withdrawal to spread-bettingon home price dynamics. Her books include Housing & SocialPolicy (1990), Housing for Health (2000), ThePolitics of Race and Residence (1989), and Children atRisk (1995). She is Editor-in-chief of the forthcomingInternational Encyclopedia of Housing and Home (2012) andhas written a variety of press articles on home prices and housingmarkets.
Beverley A. Searle is a Lecturer in Human Geography atDurham University. She gained a PhD in 2005 from the University ofYork. Her research interest focuses on housing wealth andhouseholds' welfare and well-being. She is author of Well-being:In Search of a Good Life? (2008).
Table of Contents
Chapter 1: Introduction (Susan J. Smith, Beverley A. Searle, andGareth D. Powells).
Part One: Banking on Housing.
Chapter 2: Housing and Mortgage markets: An OECD perspective(Nathalie Girouard).
Chapter 3: Is Housing Wealth an ‘ATM’?:International Trends (Vladimir Kluyev and Paul Mills).
Chapter 4: Housing Wealth Effects and Course of the USEconomy: Theory, Evidence, and Policy Implications (Eric S.Belsky).
Chapter 5: The rise in house prices and household debt in theUnited Kingdom: potential causes and implications (Matt Waldron andFabrizio Zampolli).
Chapter 6: Housing Wealth and Mortgage Debt in Australia (MikeBerry).
Chapter 7: A Survey of Housing Equity Withdrawal and Injectionin Australia (Carl Schwartz, Tim Hampton, Christine Lewis and DavidNorman).
Chapter 8: What do we know about equity withdrawal by householdsin New Zealand? (Mark Smith).
Chapter 9: What happened to the housing system? (DuncanMaclennan).
Part Two: Housing Wealth as a Financial Buffer.
Chapter 10: Trading on housing wealth: political risk in anageing society (Mike Berry and Tony Dalton).
Chapter 11: Housing Equity Withdrawal and Retirement: Evidencefrom the Household, Income and Labour Dynamics in Australia Survey(HILDA) (Gavin Wood and Christian A. Nygaard).
Chapter 12: Housing Markets, Wealth and‘Self-Insurance’ in Spain (Joan Costa-Font, Joan Gilland Oscar Mascarilla).
Chapter 13: Housing wealth: a safety net of last resort? Findings from a European study (Deborah Quilgars and AnwenJones).
Chapter 14: 'Pots of gold': Housing wealth and economicwellbeing in Australia (Val Colic-Peisker, Guy Johnson and Susan J.Smith).
Chapter 15: Housing Wealth as Insurance: Insights from theUK (Beverley A Searle and Susan J Smith).
Chapter 16: Housing to manage debt and family care in the USA(Helen Jarvis).
Chapter 17: The Subprime State of Race (Elvin K. Wyly).
Chapter 18: The Housing Finance Revolution (Richard Green andSusan Wachter).
Part Three: Mitigating Housing Risk.
Chapter 19: How Housing Busts End: House Prices, User Cost andRigidities During Down Cycles (Karl E. Case and John M.Quigley).
Chapter 20: Is there a Role for Shared Equity Products inTwenty-First Century Housing? Experience in Australia and the UK(Christine Whitehead, and Judith Yates).
Chapter 21: Trading on house price risk: Index derivativesand home equity insurance (Peter Englund).
Chapter 22: Hedging Housing Risk: A Financial MarketsPerspective (Jonathan Reiss, John Blank, Peter Sceats, John Edwardswith Susan J Smith).
Creating housing futures: a view from the market (JonathanReiss).
Residential property derivatives: exchange-traded futures andoptions (John Blank).
Residential Property Derivatives: The role and relevance ofover-the-counter trading (Peter Sceats).
An interim Solution (John Edwards).
Chapter 23: Hedging Housing Risk: Is it Feasible? (Steve Swidlerand Harris Hollans).
Chapter 24: Housing Risk and Property Derivatives: the Role ofFinancial Engineering (Juerg Syz).
Chapter 25: Housing Futures: A role for derivatives? (Susan J.Smith).
What People are Saying About This
"Smith and Searle's book can help students easily comprehend theimportance of housing market performance in an economy. It shouldbe very useful to urban and real estate students in every level aswell as to a wider variety of readers."—Yong Tu, National University of Singapore
"The Companion is a timely resource interlinking housingstudies and economics, and arguing convincingly that they belong atthe forefront of new thinking on public policy."—Ian Skelton, University of Manitoba