The Demand for Housing in Britain and Population Ageing: Microeconometric Evidence
Abstract
This paper estimates a household's demand function for housing using household data. Estimates of the price and (current) income elasticities are robust at about -0.4 and 0.5 respectively. Independent of price and income effects, there is a strong age pattern to household demand. In conjunction with the age profile of household formation, this pattern implies that changes in the age distribution of the population have important effects on aggregate housing demand, although economic growth dominates in determining its rate of growth. Copyright 1996 by The London School of Economics and Political Science.Download Info
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Bibliographic Info
Article provided by London School of Economics and Political Science in its journal Economica.
Volume (Year): 63 (1996)
Issue (Month): 251 (August)
Pages: 383-404
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Molés Machí, Mª Cruz & Colom Andrés, Mª Consuelo, 2006. "A Model of Tenure and Dwelling Choice in Spain. A Comparison Between Urban and Rural Areas/Un modelo de elección del régimen de tenencia y tipo de vivienda en España. Una comparación entre el ámb," Estudios de Economía Aplicada, Estudios de Economía Aplicada, vol. 24, pages 631 (20 pá, Agosto.
- Ermisch, John & Pevalin, David J., 2004. "Early childbearing and housing choices," Journal of Housing Economics, Elsevier, vol. 13(3), pages 170-194, September.
- Joseph Nichols, 2004. "A Life-cycle Model with Housing, Portfolio Allocation, and Mortgage Financing," Econometric Society 2004 North American Winter Meetings 205, Econometric Society.
- Andrew Benito, 2006. "How does the down-payment constraint affect the UK housing market?," Bank of England working papers 294, Bank of England.
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