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Britainís Possessions Paradox: Explaining The Determination of Mortgage Possessions

Author

Listed:
  • Michael White
  • Gwilym Pryce

Abstract

An enigma has emerged in the UK mortgage possessions data. As expected, possessions in England and Wales have been decreasing in line with falling unemployment and interest rates, but in Scotland, possessions are actually on the increase. This puzzling pattern in the data forms the rationale for a model of the determination of house possessions in Scotland. The paper examines a range of data north and south of the border and puts forward a number of hypotheses to explain the apparent conflicting trends in the level of possessions. An econometric model is then developed with the aim of testing these hypotheses in order to throw light on Britainís possessions paradox.

Suggested Citation

  • Michael White & Gwilym Pryce, 2001. "Britainís Possessions Paradox: Explaining The Determination of Mortgage Possessions," ERES eres2001_299, European Real Estate Society (ERES).
    • Handle: RePEc:arz:wpaper:eres2001_299
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    File URL: https://eres.architexturez.net/doc/oai-eres-id-eres2001-299
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    JEL classification:

    • R3 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location

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