Academic Journal
The unintended consequences of Covid-19 economic responses on first home buyers? : evidence from New South Wales, Australia
| العنوان: | The unintended consequences of Covid-19 economic responses on first home buyers? : evidence from New South Wales, Australia |
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| المؤلفون: | Bangura, M., Lee, Chyi Lin (R12396), Schafer, B. |
| بيانات النشر: | Switzerland, MDPI |
| سنة النشر: | 2023 |
| المجموعة: | University of Western Sydney (UWS): Research Direct |
| مصطلحات موضوعية: | XXXXXX - Unknown |
| الوصف: | As in many other nations, the Australian Government implemented monetary and fiscal policies in response to the COVID-19 pandemic to aid economic recovery. Among these policies were specific measures to assist first home buyers (FHBs) in entering the housing market. However, these unprecedented economic policies might have other direct and indirect implications on FHBs, which have yet to be thoroughly explored in the literature. To fill this gap, through a survey, we collected information via public and online mortgage broker platforms from 61 FHBs who successfully entered the housing market or were actively searching during the pandemic. The results found COVID-19 economic responses counterproductive for FHBs, pushing them to a more disadvantaged position due to an overheated property market. In addition, since the onset of the pandemic, property prices have risen significantly, exacerbating housing inequality as FHBs increasingly rely on intergenerational family support, take on more financial risk, and relocate to regional areas due to fear of missing out. The study highlights the need for macroeconomists and housing policymakers to consider these unintended consequences in formulating policies that minimise the adverse effects of economic stimulus measures. |
| نوع الوثيقة: | article in journal/newspaper |
| وصف الملف: | |
| اللغة: | English |
| Relation: | Buildings--2075-5309-- Vol. 13 Issue. 5 No. 1203 pp: - |
| DOI: | 10.3390/buildings13051203 |
| الاتاحة: | https://doi.org/10.3390/buildings13051203 https://hdl.handle.net/1959.7/uws:73670 |
| Rights: | © 2023 by the authors. Licensee MDPI, Basel, Switzerland. This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license (https://creativecommons.org/licenses/by/4.0/). |
| رقم الانضمام: | edsbas.8121C3E0 |
| قاعدة البيانات: | BASE |
| DOI: | 10.3390/buildings13051203 |
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