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Labour-Market Insecurity and Risk in the Owner-Occupied Housing Market

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  • Moira Munro

    (School of Planning and Housing, Edinburgh College of Art/Heriot-Watt University, 79 Grassmarket, Edinburgh, EH1 2HJ, Scotland)

Abstract

The author explores the extent to which labour-market insecurity affects behaviour in the owner-occupied housing market. Drawing on related qualitative and quantitative survey evidence, the author first argues that owner-occupiers have experienced and also perceive considerable labour-market insecurity. However, analysis of the large-scale survey suggests only weak linkages between indicators of insecurity and the choices that owners make in the housing market. This apparent inconsistency is explored with the aid of the qualitative data which suggest that perception of insecurity and attitude to risk intersect to create strategies that may not bear any direct connection to measurable and objective labour-market characteristics or risks. The author concludes by arguing that this evidence suggests that the current policy aim of leaving owners to insure themselves against labour-market risk will leave some owners unprotected, and that this gap is likely to persist in the long term.

Suggested Citation

  • Moira Munro, 2000. "Labour-Market Insecurity and Risk in the Owner-Occupied Housing Market," Environment and Planning A, , vol. 32(8), pages 1375-1389, August.
    • Handle: RePEc:sae:envira:v:32:y:2000:i:8:p:1375-1389
    DOI: 10.1068/a32186
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    References listed on IDEAS

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    1. Daniel Kahneman & Amos Tversky, 2013. "Prospect Theory: An Analysis of Decision Under Risk," World Scientific Book Chapters, in: Leonard C MacLean & William T Ziemba (ed.), HANDBOOK OF THE FUNDAMENTALS OF FINANCIAL DECISION MAKING Part I, chapter 6, pages 99-127, World Scientific Publishing Co. Pte. Ltd..
    2. Peter Taylor-Gooby, 1998. "Choice and the Policy Agenda," Palgrave Macmillan Books, in: Peter Taylor-Gooby (ed.), Choice and Public Policy, chapter 1, pages 1-23, Palgrave Macmillan.
    3. Moira Munro & Ruth Madigan & Clodagh Memery, 1998. "Choices in Owner-Occupation," Palgrave Macmillan Books, in: Peter Taylor-Gooby (ed.), Choice and Public Policy, chapter 6, pages 102-122, Palgrave Macmillan.
    4. Gillian Parker & Harriet Clarke, 1998. "Paying for Long-Term Care in the UK: Policy, Theory and Evidence," Palgrave Macmillan Books, in: Peter Taylor-Gooby (ed.), Choice and Public Policy, chapter 2, pages 24-41, Palgrave Macmillan.
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    Cited by:

    1. Ariane Agunsoye, 2021. "‘Locked in the Rat Race’: Variegated financial subjectivities in the United Kingdom," Environment and Planning A, , vol. 53(7), pages 1828-1848, October.
    2. Philipp M Lersch & Caroline Dewilde, 2015. "Employment Insecurity and First-Time Homeownership: Evidence from Twenty-Two European Countries," Environment and Planning A, , vol. 47(3), pages 607-624, March.
    3. Ariane Hillig, 2019. "Everyday financialization: The case of UK households," Environment and Planning A, , vol. 51(7), pages 1460-1478, October.

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