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My home was my castle: evictions and repossessions in Britain

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  • Böheim, René
  • Taylor, Mark P.

Abstract

Using data for 1991 to 1997 from the British Household Panel Survey we investigate the incidence of housing finance problems, evictions and repossessions. Previous research on repossessions and problematic housing debt has focused on cross-sectional data. This paper contributes uniquely to the literature by examining the sequence of household and individual events associated with housing arrears and evictions. Our results show that previous experience of financial problems have a significant and positive association with the current financial situation, and that negative financial surprises are the main route into financial difficulties, controlling for other changes such as divorce or loss of employment. We also confirm the importance of structural, financial and personal factors in determining housing payment problems. Families with higher income, where the head or his/her spouse is in work, and those with greater assets have a lower risk of experiencing problems meeting their housing costs.

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File URL: https://www.iser.essex.ac.uk/publications/working-papers/iser/2000-04.pdf
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Bibliographic Info

Paper provided by Institute for Social and Economic Research in its series ISER Working Paper Series with number 2000-04.

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Date of creation: 01 Feb 2000
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Publication status: published
Handle: RePEc:ese:iserwp:2000-04

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Postal: Publications Office, Institute for Social and Economic Research, University of Essex, Wivenhoe Park, Colchester, Essex CO4 3SQ UK
Phone: 44-1206-872957
Fax: 44-1206-873151
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Web page: http://www.iser.essex.ac.uk/
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Postal: Publications Office, Institute for Social and Economic Research, University of Essex, Wivenhoe Park, Colchester, Essex CO4 3SQ UK
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Web: http://www.iser.essex.ac.uk/publications/

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References

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Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
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  1. repec:ese:iserwp:99-16 is not listed on IDEAS
  2. Oswald Andrew J., 1996. "A Conjecture on the Explanation for High Unemployment in the Industrialized Nations : Part I," The Warwick Economics Research Paper Series (TWERPS) 475, University of Warwick, Department of Economics.
  3. Patricia Tracy Jones & Stephen Nickell & Glenda Quintini, 2000. "A Picture of Job Insecurity Facing British Men," CEP Discussion Papers dp0479, Centre for Economic Performance, LSE.
  4. Brookes, Martin & Dicks, Mike & Pradhan, Mahmood, 1994. "An empirical model of mortgage arrears and repossessions," Economic Modelling, Elsevier, vol. 11(2), pages 134-144, April.
  5. repec:ese:iserwp:99-09 is not listed on IDEAS
  6. Henley, Andrew, 1998. "Residential Mobility, Housing Equity and the Labour Market," Economic Journal, Royal Economic Society, vol. 108(447), pages 414-27, March.
  7. Weiss, Y. & Willis, R.J., 1995. "Match Quality, New Information and Marital Dissolution," Papers 33-95, Tel Aviv - the Sackler Institute of Economic Studies.
  8. repec:ese:iserwp:2000-01 is not listed on IDEAS
  9. Wadsworth, Jonathan, 1998. "Eyes Down for a Full House: Labour Market Polarisation and the Housing Market in Britain," Scottish Journal of Political Economy, Scottish Economic Society, vol. 45(4), pages 376-92, September.
  10. Henley, Andrew, 1998. "Changes in the Distribution of Housing Wealth in Great Britain, 1985-91," Economica, London School of Economics and Political Science, vol. 65(259), pages 363-80, August.
  11. Becker, Gary S & Landes, Elisabeth M & Michael, Robert T, 1977. "An Economic Analysis of Marital Instability," Journal of Political Economy, University of Chicago Press, vol. 85(6), pages 1141-87, December.
  12. Boozer, Michael A., 1997. "Econometric Analysis of Panel Data Badi H. Baltagi Wiley, 1995," Econometric Theory, Cambridge University Press, vol. 13(05), pages 747-754, October.
  13. Bart Lambrecht & William Perraudin & Stephen Satchell, 1996. "Time to Default in the U.K. Mortgage Market," Archive Working Papers 016, Birkbeck, Department of Economics, Mathematics & Statistics.
  14. Alison L. Booth & Marco Francesconi & Carlos Garcia-Serrano, 1999. "Job tenure and job mobility in Britain," Industrial and Labor Relations Review, ILR Review, Cornell University, ILR School, vol. 53(1), pages 43-70, October.
  15. Boheim, Rene & Ermisch, John, 2001. " Partnership Dissolution in the UK--The Role of Economic Circumstances," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 63(2), pages 197-208, May.
  16. repec:ese:iserwp:96-18 is not listed on IDEAS
  17. Böheim, René & Taylor, Mark P, 2000. "Unemployment Duration and Exit States in Britain," CEPR Discussion Papers 2500, C.E.P.R. Discussion Papers.
  18. Kau, James B, et al, 1995. "The Valuation at Origination of Fixed-Rate Mortgages with Default and Prepayment," The Journal of Real Estate Finance and Economics, Springer, vol. 11(1), pages 5-36, July.
  19. Jarvis, Sarah & Jenkins, Stephen P, 1998. "How Much Income Mobility Is There in Britain?," Economic Journal, Royal Economic Society, vol. 108(447), pages 428-43, March.
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Cited by:
  1. Feijten Peteke & Maarten van Ham, 2007. "Residential mobility and migration of the separated," Demographic Research, Max Planck Institute for Demographic Research, Rostock, Germany, vol. 17(21), pages 623-654, December.
  2. Janine Aron & John Muellbauer, 2010. "Modelling and Forecasting UK Mortgage Arrears and Possessions," SERC Discussion Papers 0052, Spatial Economics Research Centre, LSE.
  3. Kai Kohlberger & Richard Johnson, 2009. "Has MCOB regulation affected the suitability of mortgage sales to borrowers with impaired credit histories?," Occasional Papers 35, Financial Services Authority.
  4. Burcu Duygan-Bump & Charles Grant, 2008. "Household debt repayment behaviour: what role do institutions play?," Risk and Policy Analysis Unit Working Paper QAU08-3, Federal Reserve Bank of Boston.
  5. Yvonne McCarthy, 2011. "Behavioural Characteristics and Financial Distress," BCL working papers 59, Central Bank of Luxembourg.
  6. repec:ese:iserwp:2006-08 is not listed on IDEAS
  7. Ana Del-Rí­o & Garry Young, 2005. "The impact of unsecured debt on financial distress among British households," Bank of England working papers 262, Bank of England.
  8. David ARISTEI & Manuela Gallo, 2012. "The Drivers of Household Over-Indebtedness and Delinquency on Mortgage Loans: Evidence from Italian Microdata," Quaderni del Dipartimento di Economia, Finanza e Statistica 105/2012, Università di Perugia, Dipartimento Economia, Finanza e Statistica.
  9. Orla May & Merxe Tudela, 2005. "When is mortgage indebtedness a financial burden to British households? A dynamic probit approach," Bank of England working papers 277, Bank of England.
  10. Michalis Petrides & Alex Karagrigoriou, 2008. "Determinants of Debt: An Econometric Analysis Based on the Cyprus Survey of Consumer Finances," Financial Theory and Practice, Institute of Public Finance, vol. 32(1), pages 45-64.

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