Ethnicity, Endogeneity, and Housing Tenure Choice
AbstractHome ownership rates for New Zealanders of European descent aged twenty-five to fifty-four are 16 percentage points higher than for Maori in the same age group. This article explores the relative attainment of home ownership of the two ethnic groups by estimating a series of tenure choice models and decomposing the difference in rates into endowment and "residual" effects. Particular attention is given to the endogeneity of current income and wealth relative to the tenure choice decision and to the methods for decomposing group mean differences. The article also applies more appropriate methods for estimating incomes and wealth than have been used in most previous studies of tenure choice. The study concludes that only a small proportion of differences in home ownership rates is explained by household endowments. It is shown that controlling for the endogeneity of income and wealth has a substantial impact on the tenure choice and decomposition results. Copyright 2000 by Kluwer Academic Publishers
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Bibliographic InfoArticle provided by Springer in its journal Journal of Real Estate Finance & Economics.
Volume (Year): 20 (2000)
Issue (Month): 3 (May)
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Web page: http://www.springerlink.com/link.asp?id=102945
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- Pnina O. Plaut & Steven E. Plaut, 2014. "Housing the Ex:Factors that Affect the Housing Solutions of the Divorced and the Separated," International Real Estate Review, Asian Real Estate Society, vol. 17(2), pages 203-222.
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- Bazyl, Monika, 2009. "Factors influencing tenure choice in European countries," IRISS Working Paper Series 2009-04, IRISS at CEPS/INSTEAD.
- Mark van Zijll de Jong & Grant M. Scobie, 2006. "Housing: An Analysis of Ownership and Investment Based on the Household Savings Survey," Treasury Working Paper Series 06/07, New Zealand Treasury.
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