In this paper, we study the role of wealth transfers in shaping homeownership in Malta. Leveraging data from four waves of the Maltese Household Finance and Consumption Survey, we perform a logistic regression to investigate how financial inflows in the form of gifts or inheritances, affect (i)...

This article examines the effects of homeownership decision channels on monetary policy transmission focusing on the flexibility in housing tenure transitions from mortgaged housing to rental housing after monetary policy shocks. Using Bayesian Panel VAR models, the study shows that the...

Homeownership rates differ widely across European countries. We document that part of this variation is driven by differences in the fraction of adults co-residing with their parents. Comparing Germany and Italy, we show that in contrast to homeownership rates per household, homeownership rates...

Homeownership rates differ widely across European countries. We document that part of this variation is driven by differences in the fraction of adults co-residing with their parents. Comparing Germany and Italy, we show that in contrast to homeownership rates per household, homeownership rates...

Homeownership rates differ widely across European countries. We document that part of this variation is driven by differences in the fraction of adults co-residing with their parents. Comparing Germany and Italy, we show that in contrast to homeownership rates per household, homeownership rates...

Homeownership rates differ widely across European countries. We document that part of this variation is driven by differences in the fraction of adults co-residing with their parents. Comparing Germany and Italy, we show that in contrast to homeownership rates per household, homeownership rates...

We study the effect of borrowing constraints in an assignment model of the housing market. When constraints apply symmetrically to all households, these lead to lower prices but unchanged housing consumption. When households can invest their own wealth and may differ in tastes, borrowing...

We study the transition in and out of homeownership during the 2008 housing market bust, using detailed micro-level data covering the entire Danish population. We document that homeownership decisions for certain groups of households are cyclical. Households which are affected more by falling...

In Chinese cities, migrants with rural hukou, compared to residents with local urban hukou, face more uncertainty, have limited access to mortgage finance, and are less eligible for low-cost housing. A simple model demonstrates that for these reasons, rural- to-urban migrants are less likely to...

The propensity to own (rather than to rent) primary residence tends to vary across geographical areas, over time, and among consumer cohorts. This study investigates why that is the case by focusing on the role of borrowing constraints in residential mortgage lending in Korea. In particular, a...

We study the effect of age at arrival on immigrants' homeownership probability using a dataset representative of the population resident in the UK in 2014-2016. Age at arrival has previously been found to play a significant role in immigrants' life outcomes. But while most papers study certain...

Housing affordability is a hotly debated issue on global scale. A lack of affordable housing of decent quality is a chronic problem in urban areas. Governments try to alleviate it by stimulating homeownership among middle-income households and providing social housing for the low-income...

Cross-country differences in homeownership rates are large and persistent over time, with homeownership rates ranging from 44% in Switzerland to 83% in Spain. This paper investigates whether cultures-defined as behavioral attitudes passed across generations-may value homeownership differently,...

Housing affordability is a hotly debated issue on global scale. A lack of affordable housing of decent quality is a chronic problem in urban areas. Governments try to alleviate it by stimulating homeownership among middle-income households and providing social housing for the low-income...

We examine the impact of financial leverage, measured by the loan-to-value (LTV) ratios, on elderly homeowners’ mobility and housing tenure choices. Using a 1999-2019 sample from the Panel Study of Income Dynamics (PSID), we find that a higher LTV ratio substantially increases an elderly...

In recent years, Ireland has experienced a notable decline in homeownership and a rise in the proportion of households in private rental accommodation. Concurrently, the cost of both rents and house prices have risen markedly and affordability challenges in terms of meeting housing costs have...

While there seems to be no end to estimates of housing tenure determinants, prior studies have not accounted for the simultaneity of tenure choice with household formation, labor supply or the marriage decision. Our estimates are superior to those in the literature both because we address these...

Modern empirical work on the choice between renting and owning focuses on the concept of the "user cost" of housing, which integrates into a single measure the various components of housing costs. The standard approach implicitly assumes that households know the user cost of housing with...

This paper examines the effects of a generous, spatially-targeted economic development policy (the federal Empowerment Zone program) on local neighborhood characteristics and on the neighborhood quality of life, taking into account the interactions amongst the policy, changes in neighborhood...

In Chinese cities, migrants with rural hukou, compared to residents with local urban hukou, face more uncertainty, have limited access to mortgage finance, and are less eligible for low-cost housing. A simple model demonstrates that for these reasons, rural- to-urban migrants are less likely to...

A wide range of aggregate data is used to examine the spatial variation in homeownership rates among a cross-section of 96 German planning regions. The analysis accounts for potential endogeneity of prices and affordability as well as for spatial dependence in homeownership levels. In addition...

This paper identifies a new factor, the age of the housing stock, that affects where high- and low-income neighborhoods are located in U.S. cities. High-income households, driven by a high demand for housing services, will tend to locate in areas of the city where the housing stock is relatively...

This paper develops a model that shows why high-skilled workers move more and are therefore unemployed less than low-skilled workers. The model can explain the paradoxical empirical regularity that higher owner-occupation rates are associated with higher levels of unemployment although...

In Chinese cities, migrants with rural hukou, compared to residents with local urban hukou, face more uncertainty, have limited access to mortgage finance, and are less eligible for low-cost housing. A simple model demonstrates that for these reasons, rural- to-urban migrants are less likely to...

Homeownership, though it brings both private and social benefits, entails substantial fixed costs. Indeed, standard personal financial advice suggests that homeownership should only be undertaken when one's job situation is stable and job movement is not likely in the near future. Very little...

Real estate markets are subject to dynamic, ever-changing influences from location, amenities and neighborhoods; regulation, zoning and population changes; but also - macroeconomic variables, such as interest rates, inflation and economic cycles. The decision to buy or rent a durable,...

Many of the world's wealthy countries provide fiscal incentives to homeowners. Yet, the impact of such tax breaks on housing tenure decision is unclear. Using difference-in-differences approach, this study estimates the effect of mortgage interest deduction on home ownership in the United...

We study the interplay between tenure decisions, stock market investment and the public social security system. Housing equity not only serves a dual purpose as a consumption good and as an asset, but also provides insurance to buffer various risks in retirement. Our life cycle model captures...

This paper develops and estimates a dynamic model of discrete choice for labor supply, fertility and transition from tenant to homeowner, to investigate the secular decline in homeownership over the past several decades, wholly attributable to households postponing the purchase of their first...

This paper develops and estimates a dynamic model of discrete choice for labor supply, fertility and transition from tenant to home-owner, to investigate the secular decline in homeownership over the past several decades, wholly attributable to households postponing the purchase of their first...

Introduction to Accessible Housing -- Housing for All: From Rhetoric to A Reality Check on Slum Statistics for operationalising the Flagship missions in India -- India’s poor and better-off urban citizens: Cycles of proximity and segregation -- Housing Inequality by Social Groups, Gender, and...

This book deals with important issues related to urban housing in South Asia. It analyses various aspects of housing, including spatial and temporal requirements and needs, as well as the challenges of implementing housing projects, such as financial feasibility of estate development projects...