Late starters or excluded generations? A cohort analysis of catch up in home ownership in England
England has very volatile house prices. Using survey data spanning multiple house-price cycles over nearly forty years, we document the association between house prices and homeownership at age thirty. We then use synthetic cohort methods to assess whether differences in early ownership rates persist in later life. We find that ownership rates at age thirty have varied substantially, with a significant negative association with prices. Measurement error problems - attenuation and other biases - complicate an analysis of the persistence of these differences in ownership. We use two methods to deal with this. Both indicate that cohorts with low ownership rates at age thirty close about 80% of the ownership gap by age forty.
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- Maria Concetta Chiuri & Tullio Jappelli, 2006.
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"Financial market imperfections and home ownership: A comparative study,"
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- Maria Concetta Chiuri & Tullio Jappelli, 2000. "Financial Market Imperfections and Home Ownership: A Comparative Study," CSEF Working Papers 44, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy, revised 01 Dec 2000.
- Renata Bottazzi & Hamish Low & Matthew Wakefield, 2007. "Why do home owners work longer hours?," IFS Working Papers W07/10, Institute for Fiscal Studies.
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