Residential reflections

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<abstract displayLabel="Summary">If the general level of house prices falls a long way, policymakers may introduce new policies that seek to support prices. In a recent paper in Annals of Actuarial Science, Valuation of nonegative-equity guarantees with a lower reflecting barrier', I model the effect of such interventions on the valuation of no negative equity guarantees (NNEG) in equity release mortgages. The key point is that assuming a reflecting barrier even as much as 50% below today's prices can substantially reduce the value of NNEGs.</abstract>
<note type="statement of responsibility">Guy Thomas</note>
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<topic>Cálculo actuarial</topic>
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<title>The Actuary : the magazine of the Institute & Faculty of Actuaries</title>
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<publisher>London :  Redactive Publishing, 2019-</publisher>
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<text>01/10/2020 Número 9 - octubre 2020 , p. 24-27</text>
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