House price rises and borrowing to invest
Household borrowing and spending rise with house prices, particularly for leveraged households, but household spending is not consumption. We propose a borrow-to-invest motive by which house price gains affect household spending on residential investment: rational, leveraged households have an incen...
| Main Authors: | , , |
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| 格式: | Journal article |
| 語言: | English |
| 出版: |
Elsevier
2024
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