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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...

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Detalles Bibliográficos
Autores principales: Wind, Barend, Hedman, Lina
Formato: Online Artículo Texto
Lenguaje:English
Publicado: SAGE Publications 2017
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.
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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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