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Intergenerational home ownership

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  • Blanden, Jo
  • Eyles, Andrew
  • Machin, Stephen

Abstract

This paper studies intergenerational links in home ownership, an increasingly important wealth marker and a measure of economic status in itself. Repeated cross sectional UK data show that home ownership rates have fallen rapidly over time, most markedly amongst younger people in more recent birth cohorts. Evidence from British birth cohorts data supplemented by the Wealth and Assets Survey show a significant rise through time in the intergenerational persistence of home ownership, as home ownership rates shrank disproportionately among those whose parents did not own their own home. Given the close connection between home ownership and wealth, these results on strengthening intergenerational persistence in home ownership are therefore also suggestive of a fall in intergenerational housing wealth mobility over time.

Suggested Citation

  • Blanden, Jo & Eyles, Andrew & Machin, Stephen, 2023. "Intergenerational home ownership," LSE Research Online Documents on Economics 118638, London School of Economics and Political Science, LSE Library.
    • Handle: RePEc:ehl:lserod:118638
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    File URL: http://eprints.lse.ac.uk/118638/
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    References listed on IDEAS

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    Cited by:

    1. Guido Neidhöfer & Leonardo Gasparini & Matias Ciaschi, "undated". "Intergenerational mobility of economic well-being in Latin America," Working Papers 620, ECINEQ, Society for the Study of Economic Inequality.
    2. Buscha, Franz & Gorman, Emma & Sturgis, Patrick & Zhang, Min, 2023. "Ethnic differences in intergenerational housing mobility in England and Wales," GLO Discussion Paper Series 1222 [rev.], Global Labor Organization (GLO), revised 2023.
    3. Buscha, Franz & Gorman, Emma & Sturgis, Patrick & Zhang, Min, 2023. "Ethnic differences in intergenerational housing mobility in England and Wales," LSE Research Online Documents on Economics 120674, London School of Economics and Political Science, LSE Library.

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    More about this item

    Keywords

    cohorts; housing; intergenerational mobility; wealth;
    All these keywords.

    JEL classification:

    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • J11 - Labor and Demographic Economics - - Demographic Economics - - - Demographic Trends, Macroeconomic Effects, and Forecasts
    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • J62 - Labor and Demographic Economics - - Mobility, Unemployment, Vacancies, and Immigrant Workers - - - Job, Occupational and Intergenerational Mobility; Promotion

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