Household Finance

From this page you can access my published research, blogs and learning material related to household finance and personal financial planning.

Peer reviewed publications

Buying versus renting a home

Compares the financial costs & benefits of buying versus renting a home. If you have little or no deposit (down payment) and you think you will move in less than seven years, renting is likely to be a financially better option. Also, if you think deflation is a greater risk than inflation, then renting is likely to be a financially better option. If you think the opposite applies, the balance tips towards buying.

Full citation to International Review of Financial Analysis version with typesetting

Tabner, I.T. (2016) ‘Buying Versus Renting – Determinants of the Net Present Value of Home Ownership for Individual Households’, International Review of Financial Analysis, Vol. 48, (December), pp. 233 – 246.

Pre typeset and free to download version from SSRN

Social Engagement and Stock Market Participation, with Frederick Changwony and Kevin Campbell.

Households who interact with a more diverse range of social groups are more likely to be open to ideas such as investing in the stock market.

Full citation to Review of Finance Version with typesetting

Changwony, F.K, Campbell, K. and Tabner, I.T. (2015) ‘Social Engagement and Stock Market Participation’, Review of Finance, Vol. 19, No. 1, (March), pp. 317 – 366.

Pre typeset and free to download version from SSRN

How risky is it to buy a house and when is a good time to buy, with Mitsuru Mizuno

Graphically examines the long term relationship between house prices and macroeconomic variables in the US, the UK and Japan. Presents evidence of long term trends in all markets and of a mean reverting relationship. However, both down and up variability in prices is greater in ‘more crowded’ countries such as Japan and the UK, than in the US where there are less restrictions on new supply.

Full citation to the Financial Analysts Journal version with typesetting

Mizuno, M. and Tabner, I.T. (2011) ‘The margin of safety and turning points in house prices: observations from three developed markets’, Financial Analysts Journal, Vol. 67, No. 3, pp. 76 – 93.

Due to the publishers’ copyright restrictions, there is no free version of this paper. However, a pre typeset version can be requested from the authors here provided conditions of use are complied with.

Blog articles published by third parties

Why supporting home rental is important for housing policy

Tabner, I.T. (2017) How renting can fix the UK’s broken housing market, in the Conversation, February 10th.

Working papers & Articles not published by third parties

Buying versus renting

Tabner, I.T. (2007) Should I Buy or Should I Rent: And What is an Appropriate Discount Rate for Housing Consumption in Household finance?

Foundations of the ‘Buying versus renting’ paper above. Although never formally published, this version won a best paper prize at the 2008 meeting of the Academy of Financial Services in Boston Massachusetts. Unlike the published paper, this paper also explains how to evaluate the investment case for buy to let.


This section will be coming later, the train is still a few stations up the line.