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The uneven distribution of capital gains in times of socio-spatial inequality: Evidence from Swedish housing pathways between 1995 and 2010
Housing wealth is the largest component of wealth for a majority of Swedish households. Whereas investments in housing are merely defined by income, the returns on this investment (capital gains) are dependent on local housing market dynamics. Since the 1990s, local housing market dynamics in Swedis...
Autores principales: | , |
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Formato: | Online Artículo Texto |
Lenguaje: | English |
Publicado: |
SAGE Publications
2017
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Materias: | |
Acceso en línea: | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6187073/ https://www.ncbi.nlm.nih.gov/pubmed/30369644 http://dx.doi.org/10.1177/0042098017730520 |
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author | Wind, Barend Hedman, Lina |
author_facet | Wind, Barend Hedman, Lina |
author_sort | Wind, Barend |
collection | PubMed |
description | Housing wealth is the largest component of wealth for a majority of Swedish households. Whereas investments in housing are merely defined by income, the returns on this investment (capital gains) are dependent on local housing market dynamics. Since the 1990s, local housing market dynamics in Swedish cities have been altered by the upswing in levels of socio-spatial inequality. The simultaneous up- and downgrading of neighbourhoods is reflected in house price developments and exacerbates the magnitude of capital gains and losses. This article proposes that the selective redirection of housing pathways that causes an upswing in socio-spatial inequality translates into an uneven distribution of capital gains as well. A sequence analysis of the housing pathways of one Swedish birth cohort (1970–1975), based on population-wide register data (GeoSweden), is used to explain differences in capital gains between different social groups in the period 1995–2010. The results indicate higher capital gains for individuals with higher incomes and lower gains for migrants. When socio-spatial inequality increases, the more resourceful groups can use their economic and cultural capital to navigate through the housing market in a more profitable way. |
format | Online Article Text |
id | pubmed-6187073 |
institution | National Center for Biotechnology Information |
language | English |
publishDate | 2017 |
publisher | SAGE Publications |
record_format | MEDLINE/PubMed |
spelling | pubmed-61870732018-10-24 The uneven distribution of capital gains in times of socio-spatial inequality: Evidence from Swedish housing pathways between 1995 and 2010 Wind, Barend Hedman, Lina Urban Stud Articles Housing wealth is the largest component of wealth for a majority of Swedish households. Whereas investments in housing are merely defined by income, the returns on this investment (capital gains) are dependent on local housing market dynamics. Since the 1990s, local housing market dynamics in Swedish cities have been altered by the upswing in levels of socio-spatial inequality. The simultaneous up- and downgrading of neighbourhoods is reflected in house price developments and exacerbates the magnitude of capital gains and losses. This article proposes that the selective redirection of housing pathways that causes an upswing in socio-spatial inequality translates into an uneven distribution of capital gains as well. A sequence analysis of the housing pathways of one Swedish birth cohort (1970–1975), based on population-wide register data (GeoSweden), is used to explain differences in capital gains between different social groups in the period 1995–2010. The results indicate higher capital gains for individuals with higher incomes and lower gains for migrants. When socio-spatial inequality increases, the more resourceful groups can use their economic and cultural capital to navigate through the housing market in a more profitable way. SAGE Publications 2017-10-26 2018-09 /pmc/articles/PMC6187073/ /pubmed/30369644 http://dx.doi.org/10.1177/0042098017730520 Text en © Urban Studies Journal Limited 2017 http://creativecommons.org/licenses/by-nc/4.0/ This article is distributed under the terms of the Creative Commons Attribution-NonCommercial 4.0 License (http://www.creativecommons.org/licenses/by-nc/4.0/) which permits non-commercial use, reproduction and distribution of the work without further permission provided the original work is attributed as specified on the SAGE and Open Access page (https://us.sagepub.com/en-us/nam/open-access-at-sage). |
spellingShingle | Articles Wind, Barend Hedman, Lina The uneven distribution of capital gains in times of socio-spatial inequality: Evidence from Swedish housing pathways between 1995 and 2010 |
title | The uneven distribution of capital gains in times of socio-spatial inequality: Evidence from Swedish housing pathways between 1995 and 2010 |
title_full | The uneven distribution of capital gains in times of socio-spatial inequality: Evidence from Swedish housing pathways between 1995 and 2010 |
title_fullStr | The uneven distribution of capital gains in times of socio-spatial inequality: Evidence from Swedish housing pathways between 1995 and 2010 |
title_full_unstemmed | The uneven distribution of capital gains in times of socio-spatial inequality: Evidence from Swedish housing pathways between 1995 and 2010 |
title_short | The uneven distribution of capital gains in times of socio-spatial inequality: Evidence from Swedish housing pathways between 1995 and 2010 |
title_sort | uneven distribution of capital gains in times of socio-spatial inequality: evidence from swedish housing pathways between 1995 and 2010 |
topic | Articles |
url | https://www.ncbi.nlm.nih.gov/pmc/articles/PMC6187073/ https://www.ncbi.nlm.nih.gov/pubmed/30369644 http://dx.doi.org/10.1177/0042098017730520 |
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