Risk mitigation on housing and mortgage markets across Europe; a tale of contrast and hope (draft version)

Risk mitigation on housing and mortgage markets across Europe; a tale of contrast and hope (draft version)

Neuteboom, P.

2008-11-13

Homeownership rates have risen all over Europe during the last decades The result of a symbiosis between changing preferences of individual households and a government that - for divers’ political and economical reasons - promoted self-reliance on housing which in many cases matured in promoting homeownership. This paper comprises an extensive analysis of risks of mortgage borrowing by homeowners in the Netherlands and the UK. Here the riskiness of the environment in which households has to decide, the counterbalancing power of the institutional context, and household behaviour is analysed. The results show that the riskiness of mortgage borrowing in the UK is significantly higher than in the Netherlands. We show that dominance of the institutional context of the Netherlands is the main contributor to these results.

homeownership, mortgage markets, globalisation, risk mitigation

http://resolver.tudelft.nl/uuid:faccf8c3-df26-4a72-9e6e-5669dbdf96af

Conference proceedings

conference paper

(c) 2008 Neuteboom, P.