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Explaining the Spatial Variation in Homeownership Rates: Results for German Regions

  • Oliver Lerbs
  • Christian Oberst

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.

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Paper provided by CESifo Group Munich in its series CESifo Working Paper Series with number 3377.

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Date of creation: 2011
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Handle: RePEc:ces:ceswps:_3377
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  1. Kelejian, Harry H. & Prucha, Ingmar R., 2007. "HAC estimation in a spatial framework," Journal of Econometrics, Elsevier, vol. 140(1), pages 131-154, September.
  2. Michael von der Lippe & Claus Christian Breuer, 2008. "Möglichkeiten und Grenzen regionaler Kaufkraftvergleiche," Review of Economics, Lucius & Lucius, vol. 59(1), pages 31-46.
  3. 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.
  4. Kelejian, Harry H. & Prucha, Ingmar R., 2010. "Specification and estimation of spatial autoregressive models with autoregressive and heteroskedastic disturbances," Journal of Econometrics, Elsevier, vol. 157(1), pages 53-67, July.
  5. Paul Bernd Spahn, 2004. "Land Taxation in Germany," Chapters, in: International Handbook of Land and Property Taxation, chapter 7 Edward Elgar.
  6. 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 261-76, May.
  7. 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.
  8. Gianfranco Piras, . "sphet: Spatial Models with Heteroskedastic Innovations in R," Journal of Statistical Software, American Statistical Association, vol. 35(i01).
  9. 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.
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