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Independent Living and Home Ownership: An Analysis of Australian Youth

  • Steven C. Bourassa
  • Donald R. Haurin
  • R. Jean Haurin
  • Patric H. Hendershott

This study extends recent work that developed and tested economic models of the joint decisions of household formation and homeownership. The cost of shelter is an important determinant of whether youth live independently (apart from parents and other nonrelated adults), and the cost of homeownership relative to renting is important to the tenure decision. Simulations suggest that the post-1985 decline and eventual removal of the Australian subsidy for first time homeowners has lowered the homeownership rate among young households by 23 percent, which is equivalent to slowing the time to first ownership by two years for such households.

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Article provided by The University of Melbourne, Melbourne Institute of Applied Economic and Social Research in its journal Australian Economic Review.

Volume (Year): 27 (1994)
Issue (Month): 3 ()
Pages: 29-44

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Handle: RePEc:bla:ausecr:v:27:y:1994:i:3:p:29-44
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  1. Heckman, James, 2013. "Sample selection bias as a specification error," Applied Econometrics, Publishing House "SINERGIA PRESS", vol. 31(3), pages 129-137.
  2. Haurin, Donald R & Hendershott, Patric H & Kim, Dongwook, 1993. "The Impact of Real Rents and Wages on Household Formation," The Review of Economics and Statistics, MIT Press, vol. 75(2), pages 284-93, May.
  3. Haurin, Donald R. & Kamara, Duewa A., 1992. "The homeownership decision of female-headed households," Journal of Housing Economics, Elsevier, vol. 2(4), pages 293-309, December.
  4. Moffitt, Robert, 1992. "Incentive Effects of the U.S. Welfare System: A Review," Journal of Economic Literature, American Economic Association, vol. 30(1), pages 1-61, March.
  5. repec:brs:ecchap:12 is not listed on IDEAS
  6. Donald R. Haurin & Patric H. Hendershott & David C. Ling, 1987. "Homeownership Rates of Married Couples: An Econometric Investigation," NBER Working Papers 2305, National Bureau of Economic Research, Inc.
  7. Frances Goldscheider & Julie DaVanzo, 1985. "Living arrangements and the transition to adulthood," Demography, Springer, vol. 22(4), pages 545-563, November.
  8. Haurin Donald R. & Hendershott Patric H. & Kim Dongwook, 1994. "Housing Decisions of American Youth," Journal of Urban Economics, Elsevier, vol. 35(1), pages 28-45, January.
  9. Eisner, Robert, 1969. "Tax Policy and Investment Behavior: Comment," American Economic Review, American Economic Association, vol. 59(3), pages 379-88, June.
  10. W. A. V. Clark, 1985. "Human Migration," Book Chapters, in: Grant I. Thrall (ed.), Scientific Geography, pages 51 Regional Research Institute, West Virginia University.
  11. Winkler, Anne E., 1992. "The impact of housing costs on the living arrangements of single mothers," Journal of Urban Economics, Elsevier, vol. 32(3), pages 388-403, November.
  12. Rivers, Douglas & Vuong, Quang H., 1988. "Limited information estimators and exogeneity tests for simultaneous probit models," Journal of Econometrics, Elsevier, vol. 39(3), pages 347-366, November.
  13. Patric H. Hendershott & Joel Slemrod, 1982. "Taxes and the User Cost of Capital for Owner-Occupied Housing," NBER Working Papers 0929, National Bureau of Economic Research, Inc.
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