Housing and Family Wealth: Comparative International by Ray Forrest

By Ray Forrest

This assortment presents a multi-disciplinary and cross-national viewpoint at the hyperlinks among housing, own region wealth and the kin in modern society. Reasserting the position of the relatives and casual networks in housing provision it counteracts a bent to view housing concerns in slim phrases of marketplace and country provision. hugely overseas in viewpoint, the ebook addresses vital coverage questions and gives new theoretical insights into the best way housing is embedded within the wider social constitution.

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Extra resources for Housing and Family Wealth: Comparative International Perspectives, 1st Edition

Example text

The greater instability in the overall economy during the 1970s and 1980s is shown by the succession of booms and busts that occurred in the housing market (see for example Thorns 1992, Roper 1991, Treasury 1984). 3 shows clearly the sharp contrast between the 1960s when price variations for the principal urban centres were less than 5 per cent and the 1970s and 1980s when the variations were much greater and the booms and busts much more pronounced. There have been three distinct boom periods in house prices when they rose much faster than the general rate of price inflation.

All the estimates in the tables are standardised, or expressed as yearly values, to remove the effect of different periods of ownership. 3). The standard deviations confirm that there is a high degree of variability in the gains or losses flowing to sellers, regardless of area of residence. Returns to investment are mediated by a combination of home improvement activity, the timing of house purchase and disposal in relation to the property cycle, and the externality effects of public and private (dis)investment within the general vicinity.

Thus the intention in this chapter is to examine to what degree, if at all, and how these ‘family housing resources’ actually impinge upon the ‘market-driven and policy-driven hierarchy of housing advantage’ that already applies under Australian conditions (Cass 1991, 1). This is to say the housing system in Australia confers economic benefits and property rights upon outright home owners, home buyers, public tenants and private tenants, roughly in that order (Kendig et al. 1987). The first part of the chapter provides a brief overview of how changes in household demography and the employment status of women are in turn affecting the distribution of housing amongst Australians.

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