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Squeezed in and squeezed out: The effects of population ageing on the demand for housing

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  • Coleman, Andrew

Abstract

This paper examines how increasing longevity affects the housing choices of working age and retired people using a heterogeneous agent overlapping generations model that incorporates owner-occupier and rental sectors, credit constraints, detailed tax regulations, and a housing supply sector. Increasing longevity is predicted to increase the fraction of older households living in large houses, and reduce in home ownership rates among young people, who are squeezed out of the housing market because of higher taxes and house prices. The model suggests raising tax rates to provide pensions rather than relying on private provision can reduce the welfare of all agents, even those who are net beneficiaries over a lifetime, because they tighten credit constraints on agents when they are young

Suggested Citation

  • Coleman, Andrew, 2010. "Squeezed in and squeezed out: The effects of population ageing on the demand for housing," Motu Working Papers 292609, Motu Economic and Public Policy Research.
    • Handle: RePEc:ags:motuwp:292609
    DOI: 10.22004/ag.econ.292609
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