Something will turn up? Financial over-optimism and mortgage arrears
Chris Dawson and
Andrew Henley ()
Economics Letters, 2012, vol. 117, issue 1, 49-52
This paper investigates the association between unrealised financial expectations (over-optimism) and subsequent mortgage repayment difficulties, using British longitudinal data. Evidence is provided that an increased probability of mortgage payment difficulties post committal is associated with over-optimism prior to new mortgage advances.
Keywords: Financial optimism; Expectations; Mortgage arrears (search for similar items in EconPapers)
JEL-codes: D12 D14 G21 (search for similar items in EconPapers)
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:117:y:2012:i:1:p:49-52
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