Getting a Helping Hand: Parental Transfers and First-Time Homebuyers

A model that allows for inter vivos intergenerational transfers in a booming housing market is developed. The model is used to explain how transfers effect the first-time homebuyer’s consumption and housing decisions by alleviating borrowing constraints. The general implications of the model are tested using data from the leading Irish mortgage provider. We find that private transfers are targeted towards homebuyers that are liquidity constrained.

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Year of publication:	2007
Authors:	Roche, Maurice J. ; Duffy, David
Institutions:	Department of Economics, National University of Ireland
Subject:	Transfers \| Housing \| Borrowing Constraint

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Extent:	application/pdf
Series:	Economics, Finance and Accounting Department Working Paper Series.
Type of publication:	Book / Working Paper
Notes:	35 pages
Classification:	R21 - Housing Demand
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10005656648