I analyze the effect of a down payment requirement for the purchase of a home, implemented as a macroeconomic prudential measure by the Financial Supervisory Authority of Sweden in 2010, on the likelihood of homeownership of the young adult population in Sweden. By building a...

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...

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...

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...

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...

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...

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,...

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...

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...

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 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...

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 study investigates homeownership decisions of young adult children who experienced parental foreclosure. The results show that they were less likely to become homeowners when parental foreclosure happened. The foreclosures between 2009 and 2011 had the strongest negative effects; yet, young...

The stock market participation rate among homeowners is twice as high as among renters. This paper builds a life-cycle portfolio choice model with endogenous housing tenure choice. A stylized form of preference heterogeneity generates a substantial difference in participation rates. A majority...

This paper analyzes the main determinants of tenure choice in Brazil in formal and informal housing markets. Logit and Multinomial Logit models with several specifications are used to test the household's tenure choice behavior taking demographic, social, economic and locational factors as...

We show how data from online social networking services can help researchers better understand the effects of social interactions on economic decision making. We use anonymized data from Facebook, the world's largest online social network, to first explore heterogeneity in the structure of...

Home owners are about twice as likely as renters to participate in the stock market, both in the USA and Sweden. This paper sets up a life-cycle portfolio choice model which generates this pattern of limited stock market participation. Calibrated to Swedish data, the model generates the stock...

Despite Japan's highly developed housing market, little is known about the determinants of renter-to-home-owner tenure transition. Exploiting the Japanese longitudinal household data of the Keio Household Panel Survey (2004–2013), this paper aims to close this gap. Our results show that income...

"This book takes a behavioural approach to examine six important housing questions : tenure decision making, neighbourhood decision making, housing prices, housing cycles, housing wealth effects, and housing satisfaction."

We document that the recent house price experiences within an individual's social network affect her perceptions of the attractiveness of property investments, and through this channel have large effects on her housing market activity. Our data combine anonymized social network information from...

The recent house price experiences within an individual's social network affect her perceptions of the attractiveness of property investments, and through this channel have large effects on her housing market activity. Our data combine anonymized social network information from Facebook with...

Despite Japan's highly developed housing market, little is known about the determinants of renter-to-homeowner tenure transition. Exploiting the Japanese longitudinal household data of the Keio Household Panel Survey (2004-2013), this paper aims to close this gap. Our results show that income...