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England has very volatile house prices. We use pseudo-panel data spanning multiple house-price cycles over nearly forty years, to assess the extent to which house prices affect access to home ownership by age thirty, and whether differences in ownership rates persist. We find that ownership...
Persistent link: https://www.econbiz.de/10011734502
England has very volatile house prices. We use pseudo-panel data spanning multiple house-price cycles over nearly forty years, to assess the extent to which house prices affect access to home ownership by age thirty, and whether differences in ownership rates persist. We find that ownership...
Persistent link: https://www.econbiz.de/10013120183
The tenure decision upon whether to buy or to rent accommodation has long-term consequences for households' financial wellbeing that influence macroeconomic development and stability when the cumulative effects of individual decisions are aggregated across populations. The author explains how...
Persistent link: https://www.econbiz.de/10013005535
This paper examines how family housing wealth affects homeownership transitions during divergent periods of credit …, larger transfer amounts, and an increased likelihood of transitioning to homeownership during the housing bust, but not …
Persistent link: https://www.econbiz.de/10012852352
The dual motives of housing behavior, consumption and investment make the analysis of housing purchases quite difficult. As a matter of fact, while a larger literature, theoretical and empirical, deals with housing tenure choice by modeling housing consumption demand, few studies have tried to...
Persistent link: https://www.econbiz.de/10013144252
The rate of homeownership is close to the OECD average in Luxembourg. However, strong house price increases, mainly …
Persistent link: https://www.econbiz.de/10012259010
Are households more likely to be homeowners when “housing risk” is higher? We show that home-ownership rates and loan … disentangle the contributions of high price levels from high volatilities by building a life-cycle model of home-ownership choices …. We find that higher price levels can explain most of the lower home-ownership. Higher risk in the model leads to slightly …
Persistent link: https://www.econbiz.de/10011757320
Persistent link: https://www.econbiz.de/10012519329
Using a dedicated set of questions in the 2014 Luxembourg Household Finance and Consumption Survey (LU-HFCS), we show that a substantial share of households contributes their own labour to the acquisition of their main residence. These contributions help households faced with credit constraints,...
Persistent link: https://www.econbiz.de/10012299081
-percentage-point decline in homeownership for 28-to-30-year-olds over 2007-15 for these same nine cohorts. The results suggest that states that …
Persistent link: https://www.econbiz.de/10011689437