Explaining the Spatial Variation in Homeownership Rates: Results for German Regions
This paper employs cross-sectional data on 96 German regions to investigate the interregional variability of homeownership rates. Among the explanatory variables, the analysis includes important regional housing market indicators as well as regional socio-demographic composition, urbanization and labor market performance. An estimation strategy is chosen which accounts for different forms of spatial dependence among the regional units. We find that regional differences in the relative price of owning versus renting, and the affordability of owner-occupied housing play a key role in explaining why homeownership rates vary so substantially across the country. The results indicate significant neighborhood effects for several variables.
|Date of creation:||2011|
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- Kelejian, Harry H. & Prucha, Ingmar R., 2010.
"Specification and estimation of spatial autoregressive models with autoregressive and heteroskedastic disturbances,"
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- Harry H. Kelejian & Ingmar R. Prucha, 2008. "Specification and Estimation of Spatial Autoregressive Models with Autoregressive and Heteroskedastic Disturbances," CESifo Working Paper Series 2448, CESifo Group Munich.
- Kelejian, Harry H. & Prucha, Ingmar R., 2007. "HAC estimation in a spatial framework," Journal of Econometrics, Elsevier, vol. 140(1), pages 131-154, September.
- Irani Arraiz & David M. Drukker & Harry H. Kelejian & Ingmar R. Prucha, 2010.
"A Spatial Cliff-Ord-Type Model With Heteroskedastic Innovations: Small And Large Sample Results,"
Journal of Regional Science,
Wiley Blackwell, vol. 50(2), pages 592-614.
- Irani Arraiz & David M. Drukker & Harry H. Kelejian & Ingmar R. Prucha, 2008. "A Spatial Cliff-Ord-type Model with Heteroskedastic Innovations: Small and Large Sample Results," CESifo Working Paper Series 2485, CESifo Group Munich.
- Lippe Peter Michael von der & Breuer Claus Christian, 2008. "Möglichkeiten und Grenzen regionaler Kaufkraftvergleiche," Review of Economics, De Gruyter, vol. 59(1), pages 31-46, April.
- Paul Bernd Spahn, 2004. "Land Taxation in Germany," Chapters,in: International Handbook of Land and Property Taxation, chapter 7 Edward Elgar Publishing.
- Anselin, Luc & Bera, Anil K. & Florax, Raymond & Yoon, Mann J., 1996. "Simple diagnostic tests for spatial dependence," Regional Science and Urban Economics, Elsevier, vol. 26(1), pages 77-104, February.
- Javier A. Barrios Garcia & Jose E. Rodriguez Hernandez, 2004. "User Cost Changes, Unemployment and Home-ownership: Evidence from Spain," Urban Studies, Urban Studies Journal Limited, vol. 41(3), pages 563-578, March.
- Coulson, N. Edward & Fisher, Lynn M., 2009. "Housing tenure and labor market impacts: The search goes on," Journal of Urban Economics, Elsevier, vol. 65(3), pages 252-264, May.
- Piras, Gianfranco, 2010. "sphet: Spatial Models with Heteroskedastic Innovations in R," Journal of Statistical Software, Foundation for Open Access Statistics, vol. 35(i01).
- Coulson, N Edward, 2002. "Regional and State Variation in Homeownership Rates; or If California's Home Prices Were As Low As Pennsylvania's Would Its Ownership Rate Be As High?," The Journal of Real Estate Finance and Economics, Springer, vol. 24(3), pages 261-276, May.
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