Owner-occupation, Mortgages and Intergenerational Transfers: The Extreme Cases of Hungary and the Netherlands
Societies are trying to cope with ageing and the consequences of the global financial crisis. In most societies collective welfare arrangements for the elderly are under pressure, and drawing on housing equity can be considered as a potential source of augmenting one's pension and financing one's care in old age. This article explores the way in which housing equity is perceived as a financial back-up for old age in Hungary and the Netherlands: two completely different contexts. Hungary and the Netherlands are at opposite poles in many respects when it comes to old age and the role of owner-occupation. In Hungary the large majority of the population is owner-occupier, in the Netherlands the proportion is much smaller. In Hungary most home owners are outright owners; in the Netherlands they invariably have a mortgage. These differences appear to impact on household strategies. In Hungary housing equity plays a key role in the financial strategies of families, whereas it plays only a minor role in the Netherlands. Moving to the rental sector to release housing equity appears an obvious strategy in the Netherlands, whereas this strategy is non-existent in Hungary.
Volume (Year): 12 (2012)
Issue (Month): 1 (March)
|Contact details of provider:|| Web page: http://www.tandfonline.com/REUJ20|
|Order Information:||Web: http://www.tandfonline.com/pricing/journal/REUJ20|
When requesting a correction, please mention this item's handle: RePEc:taf:intjhp:v:12:y:2012:i:1:p:69-90. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Michael McNulty)
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 references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link 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 profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.