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Non‐Price Barriers to Home Ownership

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  • 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
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    References listed on IDEAS

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    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. repec:bla:ecorec:v:59:y:1983:i:165:p:105-10 is not listed on IDEAS
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    5. Schwab, Robert M, 1982. "Inflation Expectations and the Demand for Housing," American Economic Review, American Economic Association, vol. 72(1), pages 143-153, March.
    6. 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.
    7. 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.
    8. 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.
    9. 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.
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