First published in 1999, this book brings together the findings from research projects funded by the Joseph Rowntree Foundation and the Department of the Environment, Transport and the Regions. The programme of research examined the problems faced by home owners with the collapse of the property market in the late 1980s. The book focuses on households with negative equity and uses analyzes of secondary data sets, social surveys and in-depth interviews to explore the implications of the fall in property values for both households and the wider economy. In particular it examines the kinds of coping strategies adopted by home owners in relation to debt and mobility. Home Ownership in Crisis? thus gets beyond aggregate estimates and offers the reader a detailed understanding of what negative equity actually means for the individuals concerned. Moreover, by exposing a range of circumstances in which negative equity arises, the book also informs debates about the kinds of policy initiatives which may be appropriate in dealing with a more volatile economic environment in Britain and elsewhere.
Table of Contents
1. Introduction. 2. Changing Fortunes. 3. House Price Volatility and Negative Equity. 4. Home Owners in Negative Equity. 5. Routes into Negative Equity. 6. Coping Strategies Among Home Owners with Negative Equity. 7. Changing Attitudes and Behaviour. 8. The Rise and Fall of Negative Equity in Britain.
’This book provides evidence from a variety of new sources...’ Urban Studies ’This book gives an interesting account of people’s problems, reactions, strategies and feelings in a situation of negative equity...interesting reading material...very valuable insights into what goes on in the minds of owner-occupiers.’ Housing Studies ’The book is clearly organized in three sections, each being more than worthwhile to read...The strength of the book lies in the way it combines a quantitative overview of the phenomenon of negative equity with a look at the experiences of households who are confronted with it...this book may be recommended for anyone who is engaged in housing research, housing policy, or home financing.’ Journal of Housing and the Built Environment ’The story told in this book will be familiar to researchers with an interest in debates about home ownership in Britain. This is not a weakness. As a whole the book is accessible, well-structured and will be an invaluable teaching resource.’ European Planning Studies