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,...

The paper analyzes the effects of mortgage interest deductibility and untaxed imputed rental income on the German homeownership. I use a general equilibrium life-cycle framework, where a minimum down-payment constraint on purchases of housing capital is the critical element of the model...

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...

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...

Homeownership is believed to cause higher unemployment. This is because homeowners face higher mobility costs that limit their job search to local labour markets. Empirical tests of this prediction have yielded mixed results so far, possibly due to the endogeneity of homeownership. This paper...

This paper examines how family housing wealth affects homeownership transitions during divergent periods of credit access. I use matched parent-child data from the Panel Study of Income Dynamics, and exploit variation across local housing markets, as well as the recent housing cycle, to assess...

"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."

Homeownership is believed to cause higher unemployment. This is because homeowners face higher mobility costs that limit their job search to local labor markets. Empirical tests of this prediction have yielded mixed results so far, possibly due to the endogeneity of homeownership. This paper...

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...

An understanding of the house price to rent ratio and its determinants is important in assessing housing market developments and tenure choice therein. While the ratio is most usually explained by the user cost of capital, the influence of credit conditions on it has been added to econometric...

In this paper we provide an alternative explanation for the price puzzle (Sims 1992) based on the effect of monetary policy on housing tenure choice and the weight of the shelter component in overall CPI. In the presence of nominal or financial frictions, when interest rates increase, the real...

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 future of American homeownership is being pushed in contradictory directions by demographic changes. The aging of the Baby Boomers would support higher levels of homeownership, but the increasing minority share of the population and the persistent racial gap in homeownership acts to reduce...

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...

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...

The article discusses the relatively large share of owner-occupied housing in the housing stock in selected European countries with relatively low per capita income and describes the underlying causes of this phenomenon. We identify the economic implications of the growing number of...

In this article, we test whether tenure choice influences employment. This influence might arise through a number of channels, including transaction costs, lock-in effects, wealth effects, externalities and commuting times. These factors could collectively have either a positive or negative...

After the collapse of housing markets during the Great Depression, the U.S. government played a large role in shaping the future of housing finance and policy. Soon thereafter, housing markets witnessed the largest boom in recent history. The objective in this paper is to quantify the...

This paper examines the impact of the combined U.S. state and federal mortgage interest deduction (MID) on homeownership attainment, using data from 1984 to 2007 and exploiting variation in the subsidy arising from changes in the MID within and across states over time. We test whether...

This study reviews the literature on the determinants of a country's homeownership rate including factors such as demographic characteristics, household level economic variables, and government housing policies. We present a comprehensive model of a household's tenure choice, one that allows for...

Choosing between rented housing and homeownership, the so called housing tenure choice, is a key decision made by each household. Therefore housing economists often seek an answer to the question which factors have an impact on this decision. The paper investigates potential tenure choice...

After the collapse of housing markets during the Great Depression, the U.S. government played a large role in shaping the future of housing finance and policy. Soon thereafter, housing markets witnessed the largest boom in recent history. The objective in this paper is to quantify the...

After the collapse of housing markets during the Great Depression, the U.S. government played a large role in shaping the future of housing finance and policy. Soon thereafter, housing markets witnessed the largest boom in recent history. The objective in this paper is to quantify the...