PropertyValue
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  • House prices have soared in urban areas over the past two decades, and significantly more than disposable income. This article calculates a purchasing power index based on maximum borrowing for representative single first-time buyers and transaction prices in 43 Norwegian municipalities between 2003 and 2019. This is called the «First-time Buyersʼ Purchasing Power Index» (FKI). This method provides multiple gains compared to simpler measures that are often used, such as price-income rates, and is also suited to regular updates. The calculations are compared with the development in actual first-time purchases and may indicate that many young people go far beyond what the limits for their own finances dictate. While a typical single first-time buyer would be able to afford 29 percent of homes sold in the six largest Norwegian cities in 2010, the corresponding figure is 7 percent of homes sold in 2019. A pro-cyclical lending practice increases maximum borrowing during boom periods and weakens maximum borrowing during bust periods. The results indicate that it is not only in Oslo where the barriers to homeownership have increased, but that the geographical spread is greater. At the same time, the great regional differences are illustrated. (xsd:string)
?:contributor
?:dateModified
  • 2021 (xsd:gyear)
?:datePublished
  • 2021 (xsd:gyear)
?:doi
  • 10.18261/issn.2535-5988-2021-01-02 ()
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  • true (xsd:boolean)
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  • misc (xsd:string)
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?:issn
  • 2535-5988 ()
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  • 1 (xsd:string)
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?:name
  • Boligkjøpekraften til en representativ lokal førstegangskjøper (xsd:string)
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?:publicationType
  • Zeitschriftenartikel (xsd:string)
  • journal_article (en)
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  • GESIS-SSOAR (xsd:string)
  • In: Tidsskrift for boligforskning, 4, 2021, 1, 7-27 (xsd:string)
rdf:type
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?:urn
  • urn:nbn:de:0168-ssoar-95386-7 ()
?:volumeNumber
  • 4 (xsd:string)