English, Article, Journal or magazine article edition: Why has home ownership fallen among the young? Jonas D. M. Fisher; Martin Gervais

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Bookmark: http://trove.nla.gov.au/version/6938
Physical Description
  • preprint
Language
  • English

Edition details

Title
  • Why has home ownership fallen among the young?
Author
  • Jonas D. M. Fisher
  • Martin Gervais
Physical Description
  • preprint
Notes
  • Housing, home ownership, tenure choice, first-time home-buyers, marriage, income risk
  • RePEc:ifs:ifsewp:09/​08
  • 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.
  • Home ownership ; Marriage
  • RePEc:fip:fedhwp:wp-09-01
Language
  • English
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