Britainís Possessions Paradox: Explaining The Determination of Mortgage Possessions

Michael White and Gwilym Pryce

ERES from European Real Estate Society (ERES)

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.

JEL-codes: R3 (search for similar items in EconPapers)
Date: 2001-06-01
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2001_299

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