The Value of Home Ownership

Abstract

The article offers a new reading of the home ownership-mortgage relationship in Israel. It points at the duality characterizing Israeli law regarding home ownership and its protection. While home ownership is a cherished social value, there is a reluctance to provide it with sufficient protection. The significant implications of repossession in the personal, social, and economic realms call for new thinking concerning the assurance of sustainable housing. Current protection laws focus mostly on ex post solutions, aimed at alleviating the plight of the defaulting mortgagor. The article emphasizes the need for ex ante policies, introducing innovative mechanisms in home purchasing.