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)...

Do older workers change their labor supply in response to unexpected housing wealth losses (or gains)? Housing wealth is the largest component in most older Americans' portfolios, and they may seek to recoup losses by working longer to help smooth consumption in retirement. Despite its...

This paper examines how homeownership status shapes attention to inflation and its impact on durable consumption. Using randomized controlled trials on U.S. households (2021-2023), we document systematic heterogeneity in responses to inflation-related information. Homeowners exhibit greater...

"Right to Buy" (RTB) was a large-scale UK housing policy whereby incumbent tenants in public housing could buy their properties at heavily subsidised prices. The policy increased the national homeownership rate by over 10 percentage points between 1980 and the late 1990s. A key feature of RTB is...

Homeownership rates and holdings of housing wealth differ immensely across countries. We specify and estimate a life cycle model with risky labor income and house prices in which households face a discrete–continuous choice between renting and owning a house, whose sale is subject to...

Many studies indicate that the share of homeowners among young Millennials born in the 1980s is consistently lower across Europe than among Generation X, primarily born in the 1970s, at the same age. The reasons for this disparity - whether it rather stems from increased economic constraints...

This study examines how demographic changes lead to different household structures and housing choices among different age groups. It argues that the cointegration of demography, housing market, and wealth have shaped housing demand in the country over time. The results have important often...

“Right to Buy” (RTB) was a large-scale UK housing policy whereby incumbent tenants in public housing could buy their properties at heavily subsidised prices. The policy increased the national homeownership rate by over 10 percentage points between 1980 and the late 1990s. A key feature of...

We here evaluate the link between job insecurity and one of the most-important decisions that individuals take: homeownership. The 1999 rise in the French Delalande tax on firms that laid off older workers produced an unexpected exogenous rise in job insecurity for younger workers. A...

This study investigates how actual and anticipated intergenerational wealth transfers (i.e., inter-vivo gifts and inheritances) contribute to social stratification in the transition to homeownership. Utilizing discrete-time survival analysis on data from the German Socio-Economic Panel Study...

In this paper we deliver first causal evidence on the relationship between immigrant host country language proficiency and homeownership. Using an instrumental variable strategy, we find a substantial positive impact of language skills on the propensity to own a home and the quality of housing....

This paper provides a comprehensive assessment of household debt dynamics in Malta between 2010 and 2020. Drawing on the Household Finance and Consumption Survey, it argues that a process of financialisation of the household is underway on the Maltese islands, primarily via the mortgage market....

Homeownership rates and holdings of housing wealth differ immensely across countries. We specify and estimate a life cycle model with risky labor income and house prices in which households face a discrete-continuous choice between renting and owning a house, whose sale is subject to transaction...

This paper examines how homeownership status shapes attention to inflation and its impact on durable consumption. Using randomized controlled trials on U.S. households (2021–2023), we document systematic heterogeneity in responses to inflation-related information. Homeowners exhibit greater...

"Right to Buy" (RTB) was a large-scale UK housing policy whereby incumbent tenants in public housing could buy their properties at heavily subsidised prices. The policy increased the national homeownership rate by over 10 percentage points between 1980 and the late 1990s. A key feature of RTB is...

Homeownership rates and holdings of housing wealth differ immensely across countries. We specify and estimate a life cycle model with risky labor income and house prices in which households face a discrete–continuous choice between renting and owning a house, whose sale is subject to...

Homeownership rates and holdings of housing wealth differ immensely across countries. Using micro data from five economies, we estimate a life-cycle model with illiquid housing in which households face a discrete-continuous choice between renting and owning a house. We use the model to decompose...

This study explores the relationship between income growth and housing prices in Poland's seven largest cities from 2013 to 2024. Through statistical analysis, the research reveals a strong correlation between average gross wages, and both offer and transaction prices in the real estate market,...

This study examines the geographical spillover of the state-level average homeowners insurance cost for 48 US contiguous states. We estimate a panel spatial Durbin model with state and year fixed effect for data between 2001 and 2018. We found a significant positive spillover of average...

This paper introduces an innovative sell-type home reversion product aimed at monetizing Singapore's public flats, serving as a new alternative to the existing Singapore Lease Buyback Scheme (LBS). This new product not only retains the LBS's guaranteed period of residence in the property along...

Many studies indicate that the share of homeowners among young Millennials born in the 1980s is consistently lower across Europe than among Generation X, primarily born in the 1970s, at the same age. The reasons for this disparity - whether it rather stems from increased economic constraints...

Increasing homeownership has been a long-standing policy objective of many western economies. However, homeownership rates have stalled across many of these countries in recent years due to the significant volatility many housing markets have experienced with house prices, in particular, varying...

We study optimal housing taxation in a Mirrleesian framework where individuals differ in both labor productivity and land ownership. Housing services are produced by combining scarce land with structures that require maintenance, which can be performed either in-house or through market...

Almost half of mortgage lending to homeowners in Denmark consists of 30-year fixed-rate loans. The loans are callable, so homeowners can redeem their loan and take out a new one if, for example, they want to refinance at a lower rate if interest rates fall. We calculate a financial incentive for...