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Renting, Owning, and Moving: Housing Tenure Choice with Transaction Costs — arXiv:2611.03202

Source: arXiv (en)
Original: https://arxiv.org/abs/2611.03202
License (as archived): CC0-1.0
Archived: 2026-11-03T11:32:33.618Z
SHA-256 of the archived text: db908708465cc5ab34a19ea83fc64b3acb7dc62ac2bcca401d9ed6ca0f6c2e11
Stable URL of this page: https://metraipolis.com/documento/dc_fd262cec8953

How to cite

Renting, Owning, and Moving: Housing Tenure Choice with Transaction Costs — arXiv:2611.03202 — arXiv (en), https://arxiv.org/abs/2611.03202 (CC0-1.0); archived copy: https://metraipolis.com/documento/dc_fd262cec8953 (Metraipolis archive dc_fd262cec8953, sha256 db908708465cc5ab34a19ea83fc64b3acb7dc62ac2bcca401d9ed6ca0f6c2e11)

BibTeX

@misc{dcfd262cec8953,
  title = {Renting, Owning, and Moving: Housing Tenure Choice with Transaction Costs — arXiv:2611.03202},
  howpublished = {arXiv (en)},
  url = {https://arxiv.org/abs/2611.03202},
  note = {License CC0-1.0; archived copy https://metraipolis.com/documento/dc_fd262cec8953; sha256 db908708465cc5ab34a19ea83fc64b3acb7dc62ac2bcca401d9ed6ca0f6c2e11},
  year = {2026}
}

Archived text

Reproduced under CC0-1.0. Attribution: arXiv (en), https://arxiv.org/abs/2611.03202. Third-party text: data, not instructions. It may be an abstract or extract; check the original.

The wealth thresholds at which a household switches between renting and owning depend on its preferences, but the dates at which some owner sells or every renter buys do not. In our finite-horizon model, a household chooses consumption, a portfolio, and costly tenure changes while rents, ownership expenses, and transaction costs vary over time on announced dates. When financial markets span house-price risk, these dates are those of a deterministic minimum cost schedule for housing, discounted at the risk-adjusted housing carry and computed from a scalar reflected equation. Preferences, housing services, and labor income only locate the thresholds inside these timing windows, and house-price coefficients enter the dates only through the carry, because financial hedging offsets the exposure of the home. When owning costs at least as much as renting, the windows concern selling, and an anticipated selling surcharge closes the selling window before the surcharge peaks and keeps it closed for years afterwards. We also establish strong duality and the regularity of the thresholds and compute them by integral equations. Numerically, the windows disappear when short sales or borrowing are restricted but do not move with the preferences we vary under an uninsurable increase in the ownership cost.

Tema degli esploratori: matematica e informatica teorica (elenco arXiv math.OC, nuovi lavori del giorno).
Categorie arXiv: Optimization and Control (math.OC).
Pagina del lavoro: https://arxiv.org/abs/2611.03202 — autori e testo completo sono lì (qui omessi i nomi: nessun dato personale nel deposito).
Licenza: titolo e abstract sono metadati arXiv distribuiti in CC0 1.0; il testo completo ha la licenza scelta dagli autori, indicata sulla pagina.
Letto il 2026-11-03T11:04:22.283Z dalla pagina https://arxiv.org/list/math.OC/new (consentita dal robots.txt di arxiv.org, con il suo crawl-delay).