Much of the literature on the effect of housing wealth on consumption has been embedded in a simple life-cycle model in which housing price changes work as a "wealth effect". In such models, windfall gains in housing always lead to positive changes in consumption. However, this might constitute a fallacy of composition. Such models ignore that changes in housing wealth have distributional consequences between those planning to sell their house and those planning to buy a house. Further, since most housing is not simply financed out of current cash holdings but by mortgages, the institutions on mortgage markets have to be considered when looking at the "wealth effect" of housing. In this paper, a model is presented from which the classic Ando-Modigliani consumption function augmented by housing wealth can be deduced. It is shown that the deeper structural model from which this equation is deduced implies that changes in housing wealth are not necessarily positively correlated with consumption. It will be argued that changes both in demographics (the composition of the age groups in the population) as well as in mortgage markets have led to a structural break in the effect of housing wealth on consumption in the mid-1980s in the US. In the empirical part of the paper, two VAR models are estimated and impulse-response functions are computed. The results show that housing wealth changes did affect consumption differently before the mid-1980s and afterward. While both models show that consumption was positively related to housing wealth shocks after the mid-1980s, there was no or even a negative relation before.

Housing property is the most important position in a household’s wealth portfolio. Even though there is strong evidence that house price cycles and saving patterns behave synchronously, the underlying causes remain controversial. The present paper examines if there is a wealth effect of house prices on savings using household-level panel data from the German Socio-Economic Panel for the period 1996-2012. We find that young homeowners decrease their savings in response to unanticipated house price shocks, whereas old households hardly respond to house price changes. Although effects are relatively low at magnitude, we interpret this as evidence of a housing wealth effect.

This project presents geographical breakdowns of the aggregate value of owner-occupied real estate from 2001 to the present. The table contains quarterly estimates for the 20 largest U.S. states by population, as well as the 4 primary Census statistical regions and 9 Census divisions. The data are derived from property-value estimates constructed by Zillow and property-count estimates from the American Community Survey of the U.S. Census.

Homeownership is widely stimulated by policy yet its economic effects are poorly understood. We exploit quasi-random variation in homeownership generated by privatization decisions of municipally-owned buildings, and use granular data on demographics, income, housing, financial wealth, and debt that allow us to construct high quality measures of spending. Homeownership causes wealth accumulation via house price appreciation, increases consumption, and improves consumption smoothing across time and states of the world. It increases mobility for young households, who move up the property ladder, and amplifies wealth accumulation for older households, who take more risk in their financial portfolio.

Graph and download economic data for Home Mortgages Held by the Top 0.1% (99.9th to 100th Wealth Percentiles) (WFRBLTP1238) from Q3 1989 to Q4 2024 about wealth, percentile, mortgage, housing, and USA.

Rising home values also raise the cost of living, offsetting their impact on consumption. However, additional home equity collateral can loosen borrowing constraints, increasing spending for households that value their current endowment of housing highly. I use geographically linked microdata to exploit regional heterogeneity in housing markets and identify the causal effect of house price fluctuations on consumer spending. A $1 increase in home values leads to a $0.047 increase in spending for homeowners, but a negligible response for renters. Results reflect large responses among credit constrained households, suggesting looser borrowing constraints are a primary driver of the MPC out of housing wealth.

Graph and download economic data for Home Mortgages Held by the 99th to 99.9th Wealth Percentiles (WFRBL99T999211) from Q3 1989 to Q4 2024 about wealth, percentile, mortgage, housing, and USA.

ITW03 - Intergenerational wealth transfers. Published by Central Statistics Office. Available under the license Creative Commons Attribution 4.0 (CC-BY-4.0).Intergenerational wealth transfers...

HFC2038 - Household Gross and Net Wealth. Published by Central Statistics Office. Available under the license Creative Commons Attribution 4.0 (CC-BY-4.0).Household Gross and Net Wealth...

Respondents' self-valuation of any property owned, both their main residence plus any other land or property owned in the UK or abroad.

Ireland Household Net Wealth: Housing Assets data was reported at 811.952 EUR bn in Sep 2024. This records an increase from the previous number of 779.148 EUR bn for Jun 2024. Ireland Household Net Wealth: Housing Assets data is updated quarterly, averaging 450.164 EUR bn from Mar 2002 (Median) to Sep 2024, with 91 observations. The data reached an all-time high of 811.952 EUR bn in Sep 2024 and a record low of 247.041 EUR bn in Mar 2002. Ireland Household Net Wealth: Housing Assets data remains active status in CEIC and is reported by Central Bank of Ireland. The data is categorized under Global Database’s Ireland – Table IE.AB023: Household Net Wealth.

This dataset is about books. It has 1 row and is filtered where the book is Housing, poverty and wealth in Ireland. It features 7 columns including author, publication date, language, and book publisher.

Graph and download economic data for Home mortgages Held by the Bottom 50% (1st to 50th Wealth Percentiles) (WFRBLB50102) from Q3 1989 to Q1 2025 about wealth, percentile, mortgage, housing, and USA.

Land conservation efforts throughout the U.S. enhance ecological amenities while generating wealth in the housing market through capitalization of amenities. This paper estimates the benefits of conservation that are capitalized into proximate home values and quantifies how those benefits are distributed across demographic groups. Using detailed property and household-level data from Massachusetts, we estimate that new land conservation led to $62 million in new housing wealth equity. However, houses owned by low-income or Black or Hispanic households are less likely to be located near protected areas, and hence, these populations are less likely to benefit financially. Direct study of the distribution of this new wealth from capitalized conservation is highly unequal, with the richest quartile of households receiving 43%, White households receiving 91%, and the richest White households receiving 40%, which is nearly 140% more than would be expected under equal distribution. We extend o...

HFC40 - Household Gross and Net Wealth. Published by Central Statistics Office. Available under the license Creative Commons Attribution 4.0 (CC-BY-4.0).Household Gross and Net Wealth...

According to this forecast, the total housing-related spending will stay nearly the same over the forecast period. Consumer spending, in this case housing-related per capita spending, refers to the domestic demand of private households and non-profit institutions serving households (NPISHs). Spending by corporations and the state is not included. The forecast has been adjusted for the expected impact of COVID-19.Consumer spending is the biggest component of the gross domestic product as computed on an expenditure basis in the context of national accounts. The other components in this approach are consumption expenditure of the state, gross domestic investment as well as the net exports of goods and services. Consumer spending is broken down according to the United Nations' Classification of Individual Consumption By Purpose (COICOP). The shown data adheres broadly to group 04. As not all countries and regions report data in a harmonized way, all data shown here has been processed by Statista to allow the greatest level of comparability possible. The underlying input data are usually household budget surveys conducted by government agencies that track spending of selected households over a given period.The data is shown in nominal terms which means that monetary data is valued at prices of the respective year and has not been adjusted for inflation. For future years the price level has been projected as well. The data has been converted from local currencies to US$ using the average exchange rate of the respective year. For forecast years, the exchange rate has been projected as well. The timelines therefore incorporate currency effects.Find more key insights for the total consumer spending on housing, water and electricity in countries like Australia & Oceania and Asia.

Robust results of housing wealth on household entrepreneurship(logit).

This data collection comprises interview transcripts from Tokyo (34), Shanghai(36) and Hong Kong(27). Rising home ownership rates, volatile property markets and deregulated financial systems are increasingly important ingredients in the shaping of advantage and opportunity in contemporary societies. This cross-national, comparative research examines how the role of housing assets influences relationships within the family and across generations in East Asian societies. The different pattern and pace of economic and social change mean that the distribution of housing wealth may vary substantially across societies in the region. In some countries, it is an older generation of home owners which has benefited from extraordinary levels of house price inflation. In other countries, it is a younger, emergent middle class which is accumulating housing wealth on a scale far removed from the experiences of their parents and grandparents. The fieldwork was conducted in three dynamic cities in East Asia. The research will involve interviews with three generations (grandparents, parents and adult children) in 12 families in each city; and will highlight how work, entry to home ownership, and asset accumulation play out over the life course.

This table provides data on household wealth by characteristics such as household composition and age of main earner, main source of income, housing situation, income group, wealth group and wealth class. The data are available according to various regional classifications based on the municipal classification as of 1 January 2024.

Data available from: 2006. The data refer to the state of the assets as at 1 January.

Status of figures: The figures for 2006 to 2022 are final. The figures for 2023 are provisional.

Changes as of November 2024: None, this is a new table.

When will there be new figures? New figures for 2024 will be available in autumn 2025, and will appear in a new table.

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