Calculated Affection? Charting the Complex Economy of Home Purchase

Housing market dynamics generally, and price volatility in particular, are a core concern for analysts and policy makers who are monitoring and managing the British housing system (Aoki et al., 2001; Barker, 2004; Miles, 2004). These concerns are multiple and relate to inequalities in housing accessibility and affordability (Bramley ampentity Karley, 2005; Holmans, 2001), the wealth implications of uneven house price appreciation (Smith, 2005; Thomas ampentity Dorling, 2004), and the impacts of housing and mortgage markets on the buoyancy and manageability of the macro economy (Attanasio et al., 2005; Maxwell, 2005).