Parental wealth and resource transfers : How they matter in France for home ownership and living standards
AbstractThe role played by parental wealth in facilitating the life chances and living standards of offspring is a topic of growing interest in stratification research. The addition of household wealth to the parental resource portfolio opens new issues with respect to mechanisms in the transmission of advantage across generations, since wealth transfers can take place at different points along the life course, in varying amounts, and for different purposes. This paper examines the impact of parental wealth and transfers of wealth on several aspects of the homeownership decision--the timing of the purchase, the cost of the home, and the downpayment proportion, as well as living standards subsequent to the purchase. We utilize a unique data set from France which contains information on parental wealth and wealth transfers from both sets of parents of a couple, as well as details on the timing of transfers in relation to a home purchase. The results make clear the complex pathways by which parental wealth influences the tenancy arrangements and living standards of offspring.
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