Independent Living and Home Ownership: An Analysis of Australian Youth
AbstractThis study extends recent work that developed and tested economic models of the joint decisions of household formation and homeownership. The cost of shelter is an important determinant of whether youth live independently (apart from parents and other nonrelated adults), and the cost of homeownership relative to renting is important to the tenure decision. Simulations suggest that the post-1985 decline and eventual removal of the Australian subsidy for first time homeowners has lowered the homeownership rate among young households by 23 percent, which is equivalent to slowing the time to first ownership by two years for such households.
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Bibliographic InfoArticle provided by The University of Melbourne, Melbourne Institute of Applied Economic and Social Research in its journal Australian Economic Review.
Volume (Year): 27 (1994)
Issue (Month): 3 ()
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Postal: The University of Melbourne, Victoria 3010
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Other versions of this item:
- Steven C. Bourassa & Donald R. Haurin & R. Jean Haurin & Patric H. Hendershott, 1993. "Independent Living and Homeownership: An Analysis of Australian Youth," NBER Working Papers 4450, National Bureau of Economic Research, Inc.
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
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