Housing, home ownership, tenure choice, first-time home-buyers, marriage, income risk

Arbeitspapier

We document that home ownership of households with heads aged 25-44 years fell substantially between 1980 and 2000 and recovered only partially during the 2001{2005 housing boom. The 1980{2000 decline in young home ownership occurred as improvements in mortgage opportunities made it easier to purchase a home. This paper uses an equilibrium life-cycle model calibrated to micro and macro evidence to understand why young home ownership fell over a period when it became easier to own a home. Our findings indicate that a trend toward marrying later and the increase in household earnings risk that occurred after 1980 account for 3/5 to 4/5 of the decline in young home ownership.

Object Details

• Language: Englisch

References and Relationships

• Bibliographic citation: Series: IFS Working Papers ; No. 09,08

Classification and Topics

• Classification: Wirtschaft ; Urban, Rural, Regional, Real Estate, and Transportation Economics: Housing Demand
• Subject: Housing ; home ownership ; tenure choice ; first-time home-buyers ; marriage ; income risk ; Grundbesitz ; Wohneigentum ; Altersgruppe ; Ehe ; Arbeitsmarkt ; Risiko ; Lebenszyklus ; Großbritannien

Contributors, Places and Time

• Event: Geistige Schöpfung
• (who): Fisher, Jonas D. M. ; Gervais, Martin
• Event: Veröffentlichung
• (who): Institute for Fiscal Studies (IFS)
• (where): London
• (when): 2009

Further information

• Handle: http://hdl.handle.net/10419/47481
• Last update: 10.03.2025, 11:41 AM CET