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Housing Transactions and the Changing Decisions of Young Households in Britain: The Microeconomic Evidence

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  • Mark Andrew
  • Geoffrey Meen

Abstract

In this second of two related papers in this issue, the causes of declining levels of housing transactions in Britain during the 1990s are explored. The lower transaction levels resulted partly from the changing behavior of young individuals. Both household formation and owner-occupation rates of these groups also fell sharply. Using panel data, we investigate the causes of reduced new household formation and owner-occupation, finding that changes in the income distribution away from young cohorts have been an important factor. Copyright 2003 American Real Estate and Urban Economics Association

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Bibliographic Info

Article provided by American Real Estate and Urban Economics Association in its journal Real Estate Economics.

Volume (Year): 31 (2003)
Issue (Month): 1 (03)
Pages: 117-138

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Handle: RePEc:bla:reesec:v:31:y:2003:i:1:p:117-138

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Cited by:
  1. Sven Rady & François Ortalo-Magné, 2001. "Housing Market Dynamics: On the Contribution of Income Shocks and Credit Constraints," CESifo Working Paper Series 470, CESifo Group Munich.
  2. Meen, Geoffrey & Andrew, Mark, 2004. "On the use of policy to reduce housing market segmentation," Regional Science and Urban Economics, Elsevier, vol. 34(6), pages 727-751, November.
  3. Olympia Bover, 2010. "Housing purchases and the dynamics of housing wealth," Banco de Espa�a Working Papers 1036, Banco de Espa�a.
  4. Bazyl, Monika, 2009. "Factors influencing tenure choice in European countries," IRISS Working Paper Series 2009-04, IRISS at CEPS/INSTEAD.
  5. Benito, Andrew, 2006. "The down-payment constraint and UK housing market: Does the theory fit the facts?," Journal of Housing Economics, Elsevier, vol. 15(1), pages 1-20, March.
  6. Kenneth Gibb & Christian Nygaard, 2005. "The Impact of Buy to Let Residential Investment on Local Housing Markets: Evidence from Glasgow, Scotland," European Journal of Housing Policy, Taylor and Francis Journals, vol. 5(3), pages 301-326, December.
  7. Andrew, Mark & Haurin, Donald & Munasib, Abdul, 2006. "Explaining the route to owner-occupation: A transatlantic comparison," Journal of Housing Economics, Elsevier, vol. 15(3), pages 189-216, September.
  8. 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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