Britain's New Housing Precariat: Housing Wealth Pathways out of Homeownership

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Title: Britain's New Housing Precariat: Housing Wealth Pathways out of Homeownership
Authors: Köppe, Stephan
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Date: 2-Jun-2016
Online since: 2017-12-03T02:00:15Z
Abstract: Most Britons aspire to own their home outright before retirement. This article looks at the rocky road from the edges of ownership, where home buyers are trying to cope with pressing spending needs and mortgage repayments, towards outright ownership. Using the British Household Panel Study (BHPS), sequence analysis is applied to describe the housing wealth pathways of mortgagors as they strive to achieve outright ownership. The study pays particular attention to the risks that mortgagors are exposed to, and the tactics they employ as mortgage managers. A minority is trapped on the edges of ownership. Multinomial regression model estimates suggest that this new housing precariat is more likely to be female, younger, experience a relationship breakup, high mortgage-income ratios and have an additional child in the household. For this housing precariat, homeownership is not a safety net; it becomes a liability that exposes mortgagors to new social risks. These emerging social risks warrant policy intervention targeted on vulnerable home owner groups.
Type of material: Journal Article
Publisher: Taylor and Francis
Journal: International Journal of Housing Policy
Volume: 17
Issue: 2
Start page: 177
End page: 200
Copyright (published version): 2016 Informa UK Limited
Keywords: Housing wealthEdges of homeownershipSequence analysisDrop outsNew social risksHousing pathways
DOI: 10.1080/14616718.2016.1185286
Language: en
Status of Item: Peer reviewed
Appears in Collections:Geary Institute Research Collection
Social Policy, Social Work and Social Justice Research Collection

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