The clich¨¦ ¡°once a homeowner, always a homeowner¡± is not true. We study the causes of terminations of spells of first-time homeownership.Using a national panel data set, we find that the likelihood of a household terminating a spell of homeownership is predictable at the time of...

The rate of transition of young adults from living with parents or renting to homeownership affects the national homeownership rate. There are substantial racial and ethnic differences in the length of time that it takes for this transition to occur, contributing to the well-known racial gaps in...

In an earlier paper we explored the dynamics of speculation in the housing market using national data for England. We argued, firstly, that the increase, in real terms, in house prices over the past thirty years or so has been primarily driven by the shortage of land permitted to be used for...

Analyses of a speculative housing boom (see Malpezzi and Wachter, 2005) tend to treat the housing market as an indivisible whole, and so treat housing as an investment asset not dissimilar to other, more liquid, investments such as stocks and shares. However it is dissimilar. In the first place...

Contrary to the trend in the 1980s when individuals began to purchase their own homes at an ever earlier age, Britain in the 1990s experienced a sharp fall in household formation rates among the young and in home ownership rates among the 20-44 age group. Part of this decline may be explained by...

ERES:conference

ERES:conference