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Does facilitating housing loans help support first-time home purchases?
[Faciliter le crédit à l’habitat permet-il de soutenir la primo-accession ?]

Author

Listed:
  • Marie-Laure Barut-Etherington
  • Jean-Pierre Villetelle

Abstract

Home purchase financing for all households can be facilitated through low interest rates and favourable lending conditions, or through tax measures that are independent of income. However, given an inelastic housing supply, the additional demand that is generated could lead to a risk of higher house prices with no significant effect on home-ownership. Le financement de l’acquisition de logements peut être facilité pour l’ensemble des ménages par des taux d’intérêt bas et des conditions d’octroi favorables ou encore des mesures fiscales non conditionnées aux revenus. Mais face à une offre de logements inélastique, la demande supplémentaire qui va en découler présente le risque de se traduire par une augmentation des prix immobiliers, sans effet notable sur l’accession à la propriété.

Suggested Citation

  • Marie-Laure Barut-Etherington & Jean-Pierre Villetelle, 2026. "Does facilitating housing loans help support first-time home purchases? [Faciliter le crédit à l’habitat permet-il de soutenir la primo-accession ?]," Eco Notepad 441, Banque de France.
    • Handle: RePEc:bfr:econot:441
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