Now showing 1 - 3 of 3
  • Publication
    Geographies of Assets and Debt
    In this paper we focus on the geographies of individual and household debt. Rising household debt has become an issue of increased concern across many nations. We consider two important contributing factors to this rise in debt; first, the global rise in financial services and institutions seeking to expand their market share of consumer credit. Second, the dismantling of public welfare provision and the shift towards individualization and personal asset-building.
      609
  • Publication
    Housing wealth and welfare over the life course
    (Edward Elgar Publishing, 2017) ;
    This paper conceptualises housing wealth and welfare across the life course. Drawing from the empirical literature on housing wealth transitions, mainly in the United Kingdom, we develop a framework to capture housing wealth from the cradle to the grave. The gAMUT approach captures four key stages: Accumulation, Managing, Using and Transferring of housing wealth. Beyond housing, other wealth and asset types can be incorporated such as savings, bonds or physical wealth. Based on these four stages welfare benefits and drawback as well as opportunities and risks across the life course are discussed. We show that the benefits of housing wealth are later in life. Yet, homeowners face new social risks throughout the life course, they would otherwise not have to worry about. For instance, utilising housing wealth for care needs is a highly individualised risk. Those who incur little care costs can transfer their entire home to their children, while children with parents who have intensive care needs loose substantial amounts of their inheritance. We conclude that housing wealth accumulation potentially has huge individual welfare benefits if managed well and within fortunate economic environment, but is a poor financing mechanism to cover social risks.
    Scopus© Citations 22  780
  • Publication
    Assets, Savings and Wealth, and Poverty: A Review of Evidence. Final Report to the Joseph Rowntree Foundation
    (Personal Finance Research Centre, 2014-07) ;
    This review examines the evidence on the extent to which savings, assets and wealth can provide a safety net against unexpected expenses or drops in income. It also looks at whether holding assets changes people's thinking and whether they become more responsible and forward-looking.
      828