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Housing wealth accumulation : The role of public housing

  • Florence Goffette-Nagot

    ()

    (Université de Lyon, Lyon, F-69007, France ; CNRS, GATE Lyon St Etienne,F-69130 Ecully, France)

  • Modibo Sidibé

    ()

    (Duke University, Department of Economics, Duke University, United States)

The public housing sector provides housing units at below-market rents, potentially allowing its tenants to save for a downpayment more quickly than they would have otherwise. In this paper, we analyze the e-ffect of a spell in public housing on age at first-time homeownership using the French Housing Survey. We use a pseudo-panel approach that takes into account the speci-cities of the local housing market, to derive individual tenure transitions from multiple cross-sections data. Using an IV strategy to control for a potential selection into public housing, we jointly estimate public housing tenancy and duration before -first-time homeownership, and take into account unobserved heterogeneity. Our results indicate that a spell in public housing increases the hazard to homeownership, supporting the idea that, in France, the public housing policy provides an important pathway to homeownership.

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Paper provided by Groupe d'Analyse et de Théorie Economique (GATE), Centre national de la recherche scientifique (CNRS), Université Lyon 2, Ecole Normale Supérieure in its series Working Papers with number 1343.

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Date of creation: 2013
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Handle: RePEc:gat:wpaper:1343
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  1. Boehm, Thomas P. & Schlottmann, Alan M., 2004. "The dynamics of race, income, and homeownership," Journal of Urban Economics, Elsevier, vol. 55(1), pages 113-130, January.
  2. Michael Svarer & Michael Rosholm & Jacob Roland Munch, 2003. "Are Home Owners Really more Unemployed?," CAM Working Papers 2003-09, University of Copenhagen. Department of Economics. Centre for Applied Microeconometrics.
  3. DUJARDIN, Claire & GOFFETTE-NAGOT, Florence, . "Does public housing occupancy increase unemployment?," CORE Discussion Papers RP -2164, Université catholique de Louvain, Center for Operations Research and Econometrics (CORE).
  4. M. van Leuvensteijn & P. Koning, 2004. "The Effect of Home-ownership on Labor Mobility in The Netherlands," Working Papers 04-01, Utrecht School of Economics.
  5. J. Currie & A. Yelowitz, . "Are Public Housing Projects Good For Kids?," Institute for Research on Poverty Discussion Papers 1152-97, University of Wisconsin Institute for Research on Poverty.
  6. Jakob Roland Munch & Michael Rosholm & Michael Svarer, 2006. "Home Ownership, Job Duration, and Wages," Economics Working Papers 2006-06, School of Economics and Management, University of Aarhus.
  7. Angela R. Fertig & David A. Reingold, 2007. "Public housing, health, and health behaviors: Is there a connection?," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 26(4), pages 831-860.
  8. Thomas P. Boehm & Alan M. Schlottmann, 2009. "The Dynamics of Homeownership: Eliminating the Gap Between African American and White Households," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 37(4), pages 599-634.
  9. Heckman, James & Singer, Burton, 1984. "A Method for Minimizing the Impact of Distributional Assumptions in Econometric Models for Duration Data," Econometrica, Econometric Society, vol. 52(2), pages 271-320, March.
  10. Deaton, Angus, 1985. "Panel data from time series of cross-sections," Journal of Econometrics, Elsevier, vol. 30(1-2), pages 109-126.
  11. David A. Reingold & Gregg G. Van Ryzin & Michelle Ronda, 2001. "Does Urban Public Housing Diminish the Social Capital and Labor Force Activity of Its Tenants?," Journal of Policy Analysis and Management, John Wiley & Sons, Ltd., vol. 20(3), pages 485-504.
  12. Brian A. Jacob, 2004. "Public Housing, Housing Vouchers, and Student Achievement: Evidence from Public Housing Demolitions in Chicago," American Economic Review, American Economic Association, vol. 94(1), pages 233-258, March.
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