Please use this identifier to cite or link to this item:
http://hdl.handle.net/1961/4559
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| Title: | The effect of house prices on home owners savings |
| Authors: | Darmenov, Askar |
| Issue Date: | 18-Nov-2008 |
| Abstract: | This thesis investigates the correlation between house prices and home owners savings. The data from Panel Study of Income Dynamics is used to construct a sample of under age 65 home owning households for period of 1999-2005. Results of analysis suggests that on average increasing of house value has negative affect on households savings with magnitude of 4 cents per each dollar. The recent housing market crisis shows that housing wealth is not an absolutely reliable source of financial wealth even though perceived as stable saving instrument. So, actual existence of established relationship might be a source of concern about households financial security. Households who save less in response to housing prices increase are more vulnerable to the crises on the housing market. |
| URI to cite or link to this item: | http://hdl.handle.net/1961/4559 |
| Appears in Collections: | Public Policy (GT-ETD)
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