The Dynamics of Homeownership Among the 50+ in Europe
AbstractWe use life history data covering households in thirteen European countries to analyse residential moves past age 50. We observe four types of moves: renting to owning, owning to renting, trading up or trading down for home-owners. We find that in the younger group (aged 50-64) trading up and purchase decisions prevail; in the older group (65+), trading down and selling are more common. Overall, moves are rare, particularly in Southern European countries. Most moves are driven by changes in household composition (divorce, widowhood, nest-leaving by children), but economic factors play a role: low income households who are house-rich and cash-poor are more likely to sell their home late in life.
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Bibliographic InfoPaper provided by C.E.P.R. Discussion Papers in its series CEPR Discussion Papers with number 8889.
Date of creation: Mar 2012
Date of revision:
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Find related papers by JEL classification:
- D19 - Microeconomics - - Household Behavior - - - Other
- E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
This paper has been announced in the following NEP Reports:
- NEP-AGE-2012-03-28 (Economics of Ageing)
- NEP-ALL-2012-03-28 (All new papers)
- NEP-EEC-2012-03-28 (European Economics)
- NEP-EUR-2012-03-28 (Microeconomic European Issues)
- NEP-URE-2012-03-28 (Urban & Real Estate Economics)
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