Income multiples and mortgage repossession in the UK

This paper presents the findings of the study that examines how income multiples for mortgage loan associates with home repossession using the data of the Council of Mortgage Lenders (CML). It employs a statistical measure for improving regression efficiency with conditioning information in the form of lagged instrument to unravel the pattern of association evident from the data. Based on the data, the study investigates what level of income multiples is optimum – that is the income multiple that minimises home repossession. A sensitivity analysis was undertaken to show how home repossession responds to changes in income multiples. For each of the analytical tasks, the study compares the aggregate market, first-time-buyers, and home movers.

Human rights and mortgage repossession: beyond property law using Article 8

Following the Supreme Court decisions in Manchester CC v Pinnock and Hounslow CC v Powell, this article examines the possible impact of Article 8 of the European Convention on Human Rights and Fundamental Freedoms upon protection of the home in creditor repossession proceedings. The central argument advanced is that, although occupiers may not all be protected through property law, they may enjoy an independent right to respect for their home under Article 8, which should be acknowledged in the legal frameworks governing creditor's enforcement rights against the home. The article suggests that the most common creditor enforcement route, through mortgage repossession proceedings, falls short in this regard. It takes as its primary focus the treatment of children in such proceedings to provide an example of the potential for a human rights-based property protection heralded by these two Supreme Court decisions.

Bubbles, collateral and monetary equilibrium

Consider an economy where infinite-lived agents trade assets collateralized by durable goods. We obtain results that rule out bubbles when the additional endowments of durable goods are uniformly bounded away from zero, regardless of whether the asset’s net supply is positive or zero. However, bubbles may occur, even for state-price processes that generate finite present value of aggregate wealth. First, under complete markets, if the net supply is being endogenously reduced to zero as a result of collateral repossession. Secondly, under incomplete markets, for a persistent positive net supply, under the general conditions guaranteeing existence of equilibrium. Examples of monetary equilibria are provided.

Endogenous debt constraints in collateralized economies with default penalties

In infinite horizon financial markets economies, competitive equilibria fail to exist if one does not impose restrictions on agents' trades that rule out Ponzi schemes. When there is limited commitment and collateral repossession is the unique default punishment, Araujo, Páscoa and Torres-Martínez (2002) proved that Ponzi schemes are ruled out without imposing any exogenous/endogenous debt constraints on agents' trades. Recently Páscoa and Seghir (2009) have shown that this positive result is not robust to the presence of additional default punishments. They provide several examples showing that, in the absence of debt constraints, harsh default penalties may induce agents to run Ponzi schemes that jeopardize equilibrium existence. The objective of this paper is to close a theoretical gap in the literature by identifying endogenous borrowing constraints that rule out Ponzi schemes and ensure existence of equilibria in a model with limited commitment and (possible) default. We appropriately modify the definition of finitely effective debt constraints, introduced by Levine and Zame (1996) (see also Levine and Zame (2002)), to encompass models with limited commitment, default penalties and collateral. Along this line, we introduce in the setting of Araujo, Páscoa and Torres-Martínez (2002), Kubler and Schmedders (2003) and Páscoa and Seghir (2009) the concept of actions with finite equivalent payoffs. We show that, independently of the level of default penalties, restricting plans to have finite equivalent payoffs rules out Ponzi schemes and guarantees the existence of an equilibrium that is compatible with the minimal ability to borrow and lend that we expect in our model. An interesting feature of our debt constraints is that they give rise to budget sets that coincide with the standard budget sets of economies having a collateral structure but no penalties (as defined in Araujo, Páscoa and Torres-Martínez (2002)). This illustrates the hidden relation between finitely effective debt constraints and collateral requirements.

O reassentamento dos refugiados colombianos e palestinos no estado do Rio Grande do Norte

Since the second semester of 2004, the first refugees guided by ACNUR arrived at Potiguar s territory. Then we follow closely, with other local actors, the implementation and development of this innovative action, namely the resettlement of those refugees in Rio Grande do Norte. To accomplish this, we consider the concepts of territory, dispossession, repossession and international migration. The state of Rio Grande do Norte is a pioneer in the Northeast, in this type of action, since, before this experience, just Rio Grande do Sul and São Paulo were engaged in this kind of action. Therefore, this paper analyzes the process of resettlement of refugees, fulfilled in Rio Grande do Norte, between 2004 and 2005. The research broaches the regards that resulted in departure of these refugees from their respective territories (Colombia and Palestine) as well as the characteristics and prospects of the areas that hosted the refugees (Natal, Lajes e Poço Branco). Finally, the work deals with the results achieved afield, through interviews and photographic record, near by refugees

A participação dos residentes no processo de produção do território turístico em Canoa Quebrada-CE

The work present entitled the participation of resident in the production process of the tourist territory in Canoa Quebrada/CE has as objective analyse of which form the site population participates of the manufacturing process and appropriation of the territory s tourist Canoa Quebrada CE , in period undestood between from 1980 to the present day. The theoretical variable about which rest this search is the concept the territory expressed in the manifested in the process deterritorialization that always appears in conjuction whith the reconstruction of territories, in other words, the process of repossession. The migratory movement of new residents acts in the new sociospatial configuration that location, form new territoriality and (de) territorializing in space turistificado reflected dialectically through the emergence of a new sociospatial setting consisting of forms and images expressed physically in place.Finish the job showing that the participation of resident native and nonnative in the production process of the tourist territory in Canoa Quebrada occurred unevenly characterized by dominance of a small group, who has control of the practice of this activity, thus appears that tourism can be tendentious, since a large portion of the population does not benefit from their results, having a exclusion with various impacts that directly affect the everyday social population

Cidadania e moradia em Franca: a luta de trabalhadores em tempo de democracia (1945-1960)

Conselho Nacional de Desenvolvimento Científico e Tecnológico (CNPq)

Território migratório - contigüidade socioterritorial de terras distintas: os Dekasseguis e a busca pela reterritorialização

This paper analyzes the new trends of Brazilian migration to Japan, more specifically in the process of redefining its territoriality on the political and administrative Japanese territory. This migration, known as Dekassegui movement, is based on the flow of Brazilians of Japanese descent in this country. The working part of a periodization of the movement, considering the political and economic situations of countries and account for aspects of the difficult adjustment of the pioneers, the change the temporal expectation of return and search for repossession of these immigrants in their most recent time frame After more than 27 years of migration is still common difficulties in the integrating the Brazilian front of Japanese society, and it is in this context, however, that migration projects take new directions, new meanings are created networks, strengthens relationships, change and so plans to build a new interaction with the territory. To understand this process, we consider as a theoretical analysis and territorial consolidation of field research in Japan, through questionnaires, to identify the processes of social integration of immigrants

Desenvolvimento territorial, políticas públicas e inovação social no Alto Jequitinhonha - MG

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

Tekoá Pyay: território de luta e resistência Guarani no Jaraguá (SP)

Pós-graduação em Geografia - IGCE

Territórios, multiterritorialidades e memórias dos povos Guarani e Kaiowá: diferenças geográficas e as lutas pela Des-colonização na Reserva Indígena e nos acampamentos-tekoha - Dourados/MS

Coordenação de Aperfeiçoamento de Pessoal de Nível Superior (CAPES)

O transporte ferroviário no nordeste brasileiro e o potencial de desenvolvimento do sudoeste do Estado do Piauí

Pós-graduação em Geografia - IGCE

As disputas territoriais na formação do assentamento Canudos, em Goiás

Pós-graduação em Geografia - FCT

Un futuro urbano con un corazón antiguo

Tomando el ejemplo de Barcelona, el artículo realiza algunas reflexiones generales acerca de las transformaciones en la ciudad como resultado de grandes proyectos urbanos que a la par de la intervención física, modifican notoriamente su carácter. En el trabajo se sostiene como hipótesis que a expensas de un urbanismo de inspiración globalizante que homogeniza y segrega, la ciudad va mutando en nuevos espacios de desposesión para los ciudadanos. Al correr de los tiempos actuales y bajo el influjo de los nuevos proyectos, su carácter histórico como espacio de intercambio y apropiación, va cediendo lugar a la tendencia a la banalización urbana, la segregación social del territorio y el aumento de las desigualdades. Un segundo tópico se vincula con la respuesta de la ciudadanía frente al problema. Aquí se sostiene que por la vía de la denuncia y la crítica; como de la organización y la acción, los ciudadanos comienzan a construir y consolidar nuevos escenarios para la reapropiación del territorio, de su identidad y de su cohesión socio-cultural. Finalmente, en la conclusión se sintetizan algunas de las propuestas expresadas a lo largo del trabajo, y se reflexiona sobre los desafíos que tienen por delante las administraciones locales y los ciudadanos en la producción de un nuevo urbanismo centrado en el derecho a la ciudad.

Un futuro urbano con un corazón antiguo

Tomando el ejemplo de Barcelona, el artículo realiza algunas reflexiones generales acerca de las transformaciones en la ciudad como resultado de grandes proyectos urbanos que a la par de la intervención física, modifican notoriamente su carácter. En el trabajo se sostiene como hipótesis que a expensas de un urbanismo de inspiración globalizante que homogeniza y segrega, la ciudad va mutando en nuevos espacios de desposesión para los ciudadanos. Al correr de los tiempos actuales y bajo el influjo de los nuevos proyectos, su carácter histórico como espacio de intercambio y apropiación, va cediendo lugar a la tendencia a la banalización urbana, la segregación social del territorio y el aumento de las desigualdades. Un segundo tópico se vincula con la respuesta de la ciudadanía frente al problema. Aquí se sostiene que por la vía de la denuncia y la crítica; como de la organización y la acción, los ciudadanos comienzan a construir y consolidar nuevos escenarios para la reapropiación del territorio, de su identidad y de su cohesión socio-cultural. Finalmente, en la conclusión se sintetizan algunas de las propuestas expresadas a lo largo del trabajo, y se reflexiona sobre los desafíos que tienen por delante las administraciones locales y los ciudadanos en la producción de un nuevo urbanismo centrado en el derecho a la ciudad.