In this work, we introduce rental markets in a general equilibrium model with borrowing constraints and infinitely lived agents. We estimate our model using standard Bayesian methods and match US data on recent decades. We highlight a crucial relationship that strongly links interest rates, house prices, and rents. It represents agents’ arbitrage when choosing their degree of participation in the housing market (i.e. their real estate holdings). This framework is particularly well suited for explaining how policy-induced changes in households’ preferences have driven house prices up while pushing rent-price ratios down in the aftermath of the Covid-19 outbreak. It also allows us to parsimoniously track the unequal impact of these changes on agents’ decisions and welfare, which crucially depends on whether they are owners or renters.

Home ownership is the largest component of wealth for most households and its intergenerational transmission underpins the production and reproduction of economic inequalities across generations. Yet, little is currently known about ethnic differences in the intergenerational transmission of housing tenure. In this paper, we use linked Census data covering 1971–2011 to document rates of intergenerational housing tenure mobility across ethnic groups in England and Wales. We find that while home ownership declined across all ethnic groups during this period, there were substantial differences between them. Black, Pakistani, and Bangladeshi households experienced the strongest intergenerational link between parent and child housing tenure, and Black individuals had the highest rates of downward housing mobility. In contrast, those of Indian origin had homeownership rates similar to White British families, and a weaker link between parent and child housing tenure. These patterns are likely to exacerbate existing gradients in other dimensions of ethnicity-based inequality, now and in the future.

The rapid widening of wealth inequalities has led to sharp differences in living standards in Great Britain. Understanding whether and separately the rate at which individuals accumulate particular types of wealth by family background is important for improving wealth and social mobility. We show offspring wealth inequality is driven by housing wealth, and holding such wealth is becoming increasingly associated with early life circumstances relating to parental housing tenure and education, even after controlling for adult offspring’s own characteristics. Importantly, we find adult offspring whose parents hold a degree and are homeowners are no less likely to report homeownership and housing wealth compared to older cohorts from the same background. Our findings infer the intergenerational rank correlation in housing wealth is set to double in approximately three decades.

Housing figures prominently during economic crises, a notable example being the Great Depression. Because housing is immobile, its market is very localized. In each city, the main agents are closely interconnected. Lenders depend on mortgaged homeowners and landlords to maintain payments; landlords rely on tenants; municipalities need all property owners to pay taxes. The Depression experiences of tenants, homeowners, and federal housing programs are well-appreciated; those of landlords and private lenders much less so. Considering the role of all agents, this case study of Hamilton, Ontario, focuses on owners and private lenders and asks who lost property, to whom, and how. Drawing on land registry and property tax records, city directories, and newspaper accounts, it documents the pattern and trajectory of defaults experienced by homeowners, landlords, and private lenders. Contemporaries and historians have used foreclosures as a measure of distress, but many borrowers defaulted voluntarily. The experience of Hamilton’s homeowners was similar to those in U.S. cities. Local landlords experienced higher rates of defaults than homeowners; private lenders foreclosed less often than lending institutions. Along with municipalities, both learned to be flexible in demanding payments. The high incidence of private mortgages, the stability of lending institutions, and the marginal role of the federal government were distinctively Canadian, but in general Hamilton’s experience is more broadly indicative.

It is hard to review African American history without confronting the multiple meanings of debt. There was debt owed, debt paid, debt inherited, and debt hidden in the social tax associated with a subordinate status in the United States. All of these meanings are embedded in the murder of Elmore Bolling. Called Buddy by his relatives, Bolling defied probability by building a highly successful business in Lowndesboro, Alabama, in the 1930s and 1940s. He used debt in a conventional sense, to lease a plantation. Yet his entrepreneurial skills allowed him to offset that debt and amass wealth. He grew corn, cotton, and sugar cane. More impressively, he owned a general store, a gas station, a fleet of trucks, and a catering business, which enabled him to employ at least forty other Black residents. His business acumen allowed him to maintain $40,000 in the bank and another $5,000 in other assets, a remarkable sum for a Black man in the American South during the Jim Crow era.

It is estimated that there are in excess of eight million unfit homes in England and that one in five excess deaths are attributable to poor housing conditions, costing the NHS some £1.4bn per year. While the policy focus tends to be on housing supply, it is the private rented sector (PRS) that is a key vehicle for provision. The pandemic has given rise to some unexpected outcomes, not least in regulating that sector. This paper will consider how strategies have changed and generated new modes of regulation in the sector, which may have important longer-term effects for the relation between tenant and landlord. Using the frame of vulnerability and risk theories as a starting position, the paper will critique the role of law in allocating landlord rights and responsibilities. It will look at the implications of moving towards an appreciation of the relational, as opposed to physical aspects of housing provision in regulating landlord behaviour and the attendant risks of so doing. It will be argued that the literatures of vulnerability and risk only make sense if a further element is added in this case: the notion of hope.

The Depression housing crisis caused enormous distress, with social, economic and political implications. The roles and experiences of some major players are well established. Tenants were evicted. National statistics on foreclosures show that many property owners lost their homes. Lending institutions went under. Municipalities struggled when property tax receipts fell. The federal government stepped in, establishing new programs and agencies, with long-term consequences.

Other parts of the story have been neglected. Many borrowers surrendered their properties voluntarily, rather than await foreclosure. As vacancies rose and rents fell, landlords, many owning only one or two properties and/or renting part of their own homes, struggled. Neglected sources show they defaulted at a higher rate than homeowners. Among lenders, private individuals held more mortgages than any type of institution. Relying on investment income, many had a hard time. Both landlords and private lenders made concessions to avoid having to evict or foreclose, mitigating the effects of the Depression on tenants and borrowers. Sources exist to document local variations in the role of landlords and private lenders. These can give us a fuller picture of the Depression, one that still has relevance today.

In Australia and many other advanced economies, housing is playing a central role in accentuating and perpetuating inequality. This paper, drawing on primary and secondary data, discusses the various ways in which housing tenure in Australia contributes to wealth and income inequality. It argues that a neoliberal housing policy framework and accompanying financialisation of housing have facilitated a dramatic increase in house prices, the neglect of social housing, and a deepening wealth and income divide based on housing tenure. With respect to wealth, the key divide is between outright homeowners versus low-income private renters and low-income households in mortgage stress. The wealth of outright homeowners has grown substantially in recent decades and many have been able to acquire a holiday home and/or investment properties, thereby intensifying the wealth divide. Approximately a third of Australian households are now locked out of home ownership for an extended period or even lifelong. Housing tenure status also has an impact on the disposable income of households. For example, low-income outright homeowners are invariably in a far better position with respect to disposable income than their counterparts who have large mortgages or are private renters.

The variability of animal-based parameters was studied within a population of 41 farrow-to-finish farms. Data were collected during three visits, each corresponding to a different season within a two-year period. The largest between-farm variability was observed for stereotypic behaviour by pregnant sows, and for skin, ear and tail lesions, dirtiness and respiratory problems in growing pigs. Relationships with housing and management parameters were established to formulate advice on how to improve pigs' welfare. Group-housed sows performed less oral stereotypic behaviour than individual housed sows (18.7 versus 44.1%), but a higher proportion of skin lesions was observed in group-housed sows (15.4 versus 2.0%). Prevalence of tail-biting behaviour varied between 0 and 21%. The risk for tail biting was higher in cases of reduced levels of floor space per pig, and ear-biting behaviour occurred more often when tails were docked short. Coughing was not correlated directly with the occurrence of lung lesions, but the risk was higher in instances of reduced space availability per pig. Farms could be ranked according to these welfare parameters, ie either according to the score of each individual parameter or based on the summation of all scores. Hence, welfare status was defined in relation to farm-specific information, allowing formulation of advice on housing and management to ultimately improve pig welfare through the matching of a predefined benchmark.

The aim of this study was to examine the effects of roughage and shelter on certain welfare indicators in growing pigs that have access to ample straw and space. The effects of the two treatments were evaluated both by recording the pigs’ use of the various areas of the pen and by measuring the frequency of two specific behaviours, ‘aggression’ and ‘play’, that are considered to be significant indicators of welfare in pigs. Seven replicates were used, each involving 96 pigs. The pigs were randomly allocated to eight experimental pens at 10 weeks of age, and were observed from 13 to 22 weeks of age. The two treatments, roughage and shelter, were distributed according to a 2 x 2 design in the pigs’ outdoor runs, four of which were located on each side of the barn (north side versus south side). The pigs spent most of their time in the straw-provided areas, and the frequency of their aggressive behaviour was also the highest in these areas, suggesting that these locations were the most attractive to the pigs. The pigs with access to roughage showed a lower frequency of aggression (P < 0.05) and spent more time in the outdoor area where the roughage was placed than those pigs with no access to roughage (P < 0.05). No other effects of treatment were found on the length of time spent in the different pen locations. Play frequency decreased with age (P < 0.05) and with increasing temperature (P < 0.01). Moreover, when housed on the south side of the building, the pigs with access to shelter played more than those without (2.0 versus 1.0 events per hour [SE = 0.3]; P < 0.05); this suggests that the opportunity to regulate the body temperature by use of shade results in improved welfare. In conclusion, the pigs’ behaviour indicated that their welfare was improved by free access to roughage and shelter.

The effect of degree of isolation on the behaviour of weaned piglets was investigated using eight replicates of littermates, weaned at 4 weeks and caged for 2 weeks in metabolism chambers under varying degrees of isolation: i) fully isolated without physical contact with littermates; ii) partly isolated with limited physical contact with littermates; or iii) grouped with three littermates. The behaviour of the piglets was video recorded from 0700h-2230h on days 1, 6 and 13 post-weaning. In addition, a test of behavioural reactivity towards a novel environment/object was performed on day 8.

Irrespective of degree, isolation initially increased the occurrence of behavioural indicators of stress such as the frequency of pawing and escape attempts as well as decreasing the frequency of play. In partly isolated piglets this initial response was more active than in fully isolated piglets, indicating an increased frustration with isolation. Within 2 weeks, however, the stress response in partly isolated piglets had almost completely waned, and they showed only a decreased frequency of play behaviour, whereas in fully isolated piglets an increased frequency of pawing as well as a more pronounced reduction of play behaviour were still evident on day 13. Both isolation treatments resulted in markedly lower reactivity in a novel environment, seen as fewer squares crossed and fewer vocalizations.

It is concluded that social isolation of newly weaned piglets is stressful. Although it may increase the initial stress response, provision of social contact with littermates, eg through wire mesh, might limit negative long-term effects of isolation in experiments where data collection requires individual housing.

Standard cages for laboratory animals are often small, minimalist and barren. Such cages can compromise animal welfare, indicating that there are welfare-based reasons for improving their designs. However, a second issue, that is, whether animals from standard laboratory housing and husbandry conditions provide valid research data, also indicates that cage designs and husbandry methods need to be improved. This paper reviews various influences of standard laboratory cage design and husbandry. These include their effects on the repeatability of studies, models of neuro-degenerative disease, sensory development, physiology, and behaviour, the effects of standard social housing and standard handling, and the effects of maternal experience on the responses of offspring. These studies show that the development and responses of animals from standard laboratory housing and husbandry conditions are often unrepresentative and idiosyncratic, indicating that data are likely to have reduced external validity. An underlying question is whether animals from standard, barren laboratory cages are ‘abnormal’ and therefore might not provide valid baseline data. In terms of animal welfare, these studies indicate that standard laboratory housing may sometimes be associated both with reduced welfare and with reduced benefits gained from research. It is suggested that in a similar manner to the use of production measures when assessing cages for production animals, laboratory cages could be assessed in terms of their suitability to provide valid research data.

On-farm monitoring of animal welfare is an important, present-day objective in animal welfare science. Scientists tend to focus exclusively on animal-based parameters, possibly because using environment-based parameters could be begging the question why welfare has been affected and because animal-based parameters would be better indicators of welfare. However, selection of even the best animal-based parameters that have conventionally been used in experiments could have unacceptable consequences. Systems that are generally considered to be poor welfare systems may generate unacceptably high welfare scores. The monitoring systems could fail to match basic intuitions in society and the scientific community. In order to avoid this problem, available knowledge, eg about animal motivation derived from consumer demand studies and knowledge about the natural behaviour of the animals, should be used explicitly in welfare assessment. This requires making welfare inferences from knowledge about the relationships between environment-based and animal-based parameters using standard operating procedures. The on-farm measurement of animal-based parameters may be regarded as the measurement of critical control points, which must be compared and reconciled with predictions based on available scientific knowledge. For this purpose the formalisation of welfare assessment should be developed further.

The aim of this article is to report on the expert opinion regarding the provision of environmental enrichment for pigs. A questionnaire was sent to 53 pig welfare scientists who were asked to specify which enrichment materials they considered sufficient to ensure pig welfare; 68% responded. 89% stated that providing a chain was not sufficient, while 84% stated that the provision of straw could be sufficient. ‘Sustained animal-material interactions’, ‘rootability’, ‘manipulability’ and ‘chewability’ were the main material properties referred to as being required for enriching pig pens. Areas of further research suggested by the respondents encompassed both fundamental and applied research, including preference tests and demand studies, deprivation studies and quantitative studies to determine cut-off points. A case is made for modelling the available knowledge to help close the gap between what is known in science and what is decided in society regarding animal welfare and environmental enrichment for pigs.

From 2012 onwards, all laying hens in Europe will need to be housed either in furnished cages or non-cage systems (aviaries or floor-housing systems). In terms of animal welfare, furnished cages and non-cage systems both have advantages and disadvantages. Data on direct comparisons between the two, however, are limited. The aim of this study was to carry out an on-farm comparison of laying hens’ welfare in furnished cages and non-cage systems. To meet this aim, six flocks of laying hens in furnished cages and seven flocks in non-cage systems (all without an outdoor run) were visited when hens were around 60 weeks of age and a number of measures were collected: behavioural observations, fearfulness, plumage and body condition, incidence of bone breaks, bone strength, TGI-score (or Animal Needs Index), dust levels and mortality. In non-cage systems, birds were found to be more active and made greater use of resources (scratching area, perches) than in furnished cages. These birds also had stronger bones and were less fearful than birds in furnished cages. On the other hand, birds in furnished cages had lower mortality rates, lower incidence of bone fractures and lower airborne dust concentrations. When all the welfare indicators were integrated into an overall welfare score, there were no significant differences between systems. These results indicate that furnished cages and non-cage systems have both strong and weak points in terms of their impact on animal welfare.