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THE IMPACT OF FINANCIAL HELP AND GIFTS ON HOUSING DEMAND AND COST BURDENS
Author(s) -
LUEA HEATHER M.
Publication year - 2008
Publication title -
contemporary economic policy
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 0.454
H-Index - 49
eISSN - 1465-7287
pISSN - 1074-3529
DOI - 10.1111/j.1465-7287.2008.00106.x
Subject(s) - business , economics , finance , financial services , labour economics
Financial transfers are an important source of income for many households and recipients may use these funds to pay for housing services. This paper examines the separate impact of financial help and substantial gifts on both housing demand and housing cost burden. The results indicate receiving gifts has a positive and statistically significant impact on housing demand. Households receiving help or gifts have substantially higher housing cost burdens, all else being held constant. These findings have implications for the financial well‐being of recipient households and ultimately, the mortgage industry . ( JEL R20, R21)