IDEAS home Printed from https://ideas.repec.org/a/bla/ecorec/v64y1988i1p26-38.html
   My bibliography  Save this article

Non‐Price Barriers to Home Ownership

Author

Listed:
  • SARAH MALE

Abstract

The impact of regulation of the nominal rate of interest for mortgages in the Australian market for housing finance is examined under inflationary conditions. It is argued that the neglected distributional consequences of the induced tightening of non‐price rationing of funds militate against the availability of housing finance to low income groups and first home buyers. Policy to increase availability should take account of the institutional features of the mortgage contract.

Suggested Citation

  • Sarah Male, 1988. "Non‐Price Barriers to Home Ownership," The Economic Record, The Economic Society of Australia, vol. 64(1), pages 26-38, March.
    • Handle: RePEc:bla:ecorec:v:64:y:1988:i:1:p:26-38
    DOI: 10.1111/j.1475-4932.1988.tb02037.x
    as

    Download full text from publisher

    File URL: https://doi.org/10.1111/j.1475-4932.1988.tb02037.x
    Download Restriction: no
    File URL: https://libkey.io/10.1111/j.1475-4932.1988.tb02037.x?utm_source=ideas
    LibKey link: if access is restricted and if your library uses this service, LibKey will redirect you to where you can use your library subscription to access this item
    ---><---

    References listed on IDEAS

    as
    1. Baltensperger, Ernst, 1978. "Credit Rationing: Issues and Questions," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 10(2), pages 170-183, May.
    2. Kearl, J R, 1979. "Inflation, Mortgages, and Housing," Journal of Political Economy, University of Chicago Press, vol. 87(5), pages 1115-1138, October.
    3. Roslyn Anstie & Christopher Findlay & Ian Harper, 1983. "The Impact of Inflation and Taxation on Tenure Choice and the Redistributive Effects of Home‐Mortgage Interest Rate ReguIation," The Economic Record, The Economic Society of Australia, vol. 59(2), pages 105-110, June.
    4. Anstie, Roslyn & Findlay, Christopher & Harper, Ian, 1983. "The Impact of Inflation and Taxation on Tenure Choice and the Redistributive Effects of Home-Mortgage Interest Rate Regulation," The Economic Record, The Economic Society of Australia, vol. 59(165), pages 105-110, June.
    5. Kent, Richard J, 1980. "Credit Rationing and the Home Mortgage Market," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 12(3), pages 488-501, August.
    6. Alm, James & Follain, James R., 1984. "Alternative Mortgage Instruments, the Tilt Problem, and Consumer Welfare," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 19(1), pages 113-126, March.
    7. Stiglitz, Joseph E & Weiss, Andrew, 1981. "Credit Rationing in Markets with Imperfect Information," American Economic Review, American Economic Association, vol. 71(3), pages 393-410, June.
    8. Dolde, Walter, 1978. "Capital Markets and the Short Run Behavior of Life Cycle Savers," Journal of Finance, American Finance Association, vol. 33(2), pages 413-428, May.
    9. Schwab, Robert M, 1982. "Inflation Expectations and the Demand for Housing," American Economic Review, American Economic Association, vol. 72(1), pages 143-153, March.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Scholten, Ulrich, 1999. "Die Förderung von Wohneigentum," Beiträge zur Finanzwissenschaft, Mohr Siebeck, Tübingen, edition 1, volume 8, number urn:isbn:9783161472343, September.
    2. Carlos Garriga & Finn E. Kydland & Roman Šustek, 2017. "Mortgages and Monetary Policy," The Review of Financial Studies, Society for Financial Studies, vol. 30(10), pages 3337-3375.
    3. James Alm & James R. Follain Jr., 1982. "Alternative Mortgage Instruments: Their Effects On Consumer Housing Choices in an Inflationary Environment," Public Finance Review, , vol. 10(2), pages 134-157, April.
    4. Ross A. Williams, 1984. "An Australian Housing Model," The Economic Record, The Economic Society of Australia, vol. 60(2), pages 143-155, June.
    5. Yuhuan Jin & Sheng Zhang, 2019. "Credit Rationing in Small and Micro Enterprises: A Theoretical Analysis," Sustainability, MDPI, vol. 11(5), pages 1-15, March.
    6. Christiano Arrigoni Coelho & Bruno Funchal, 2006. "Strategic Default And Personal Credit: The Brazilian Natural Experiment," Anais do XXXIV Encontro Nacional de Economia [Proceedings of the 34th Brazilian Economics Meeting] 97, ANPEC - Associação Nacional dos Centros de Pós-Graduação em Economia [Brazilian Association of Graduate Programs in Economics].
    7. Gerhard Clemenz & Mona Ritthaler, 1992. "Credit markets with asymmetric information : a survey," Finnish Economic Papers, Finnish Economic Association, vol. 5(1), pages 12-26, Spring.
    8. Jacob L. Vigdor, 2004. "Liquidity Constraints and Housing Prices: Theory and Evidence from the VA Mortgage," NBER Working Papers 10611, National Bureau of Economic Research, Inc.
    9. Emilio Fernandez-Corugedo & John Muellbauer, 2006. "Consumer credit conditions in the United Kingdom," Bank of England working papers 314, Bank of England.
    10. Carl E. Walsh, 1985. "Borrowing Restrictions and Wealth Constraints: Implications for Aggregate Consumption," NBER Working Papers 1629, National Bureau of Economic Research, Inc.
    11. Geoffrey P. Meen, 1989. "The Ending of Mortgage Rationing and its Effects on the Housing Market: A Simulation Study," Urban Studies, Urban Studies Journal Limited, vol. 26(2), pages 240-252, April.
    12. Kan, Kamhon, 2000. "Dynamic Modeling of Housing Tenure Choice," Journal of Urban Economics, Elsevier, vol. 48(1), pages 46-69, July.
    13. Matthew Chambers & Carlos Garriga & Don E. Schlagenhauf, 2007. "Equilibrium mortgage choice and housing tenure decisions with refinancing," Working Papers 2007-049, Federal Reserve Bank of St. Louis.
    14. Ana María Iregui-Bohórquez & Ligia Alba Melo-Becerra & María Teresa Ramírez-Giraldo & Ana María Tribín-Uribe, 2018. "Crédito formal e informal de los hogares en Colombia," Investigación Conjunta-Joint Research, in: María José Roa García & Diana Mejía (ed.), Decisiones financieras de los hogares e inclusión financiera: evidencia para América Latina y el Caribe, edition 1, volume 1, chapter 5, pages 133-166, Centro de Estudios Monetarios Latinoamericanos, CEMLA.
    15. Tracey Seslen & William C. Wheaton & Henry O. Pollakowksi, 2005. "The Investment Performance of Housing and "Hedonic" Spatial Equilibrium," Working Paper 8583, USC Lusk Center for Real Estate.
    16. Reto Wernli & Andreas Dietrich, 2022. "Only the brave: improving self-rationing efficiency among discouraged Swiss SMEs," Small Business Economics, Springer, vol. 59(3), pages 977-1003, October.
    17. Frederic S. Mishkin, 2007. "Housing and the monetary transmission mechanism," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 359-413.
    18. Broll, Udo & Gilroy, Michael B, 1986. "Collateral in Banking Policy and Adverse Selection," The Manchester School of Economic & Social Studies, University of Manchester, vol. 54(4), pages 357-366, December.
    19. Aguilera, Nelson A. & Graham, Douglas H., 1990. "Measuring Credit Rationing In Rural Financial Markets: A Portuguese Case Study," 1990 Annual meeting, August 5-8, Vancouver, Canada 270732, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).
    20. Gallurt, Jesus & Pombo, Pablo & Ramirez, Jesus & Molina, Horacio, 2012. "La asimetria de la informacion en la crisis financiera, el racionamiento del credito y la garantia como mecanismo simbiotico del sistema [The information asymmetry in the financial crisis, credit r," MPRA Paper 39773, University Library of Munich, Germany.

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:ecorec:v:64:y:1988:i:1:p:26-38. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/esausea.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.