Late starters or excluded generations? A cohort analysis of catch up in homeownership in England
We investigate whether initial differences in speed of entry into homeownership lead to longlasting differences in ownership between generations. Our data span nearly forty years and multiple cycles of England’s very volatile house prices. We document that ownership rates at thirty have differed substantially, with a significant negative association with prices. To assess the persistence of these differences we use synthetic cohort methods. Measurement error problems – attenuation and other biases - complicate the analysis. Two methods of dealing with this both indicate that cohorts with low ownership rates at thirty close about 80% of the ownership gap by forty.
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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.
- Chiuri, Maria Concetta & Jappelli, Tullio, 2003. "Financial market imperfections and home ownership: A comparative study," European Economic Review, Elsevier, vol. 47(5), pages 857-875, October.
- Chiuri, Maria Concetta & Jappelli, Tullio, 2001. "Financial Market Imperfections and Home Ownership: A Comparative Study," CEPR Discussion Papers 2717, C.E.P.R. Discussion Papers.
- Thomas F. Crossley & Yuri Ostrovsky, 2003. "A Synthetic Cohort Analysis of Canadian Housing Careers," Social and Economic Dimensions of an Aging Population Research Papers 107, McMaster University.
- Renata Bottazzi & Hamish Low & Matthew Wakefield, 2007. "Why do home owners work longer hours?," IFS Working Papers W07/10, Institute for Fiscal Studies.
- Renata Bottazzi, 2004. "Labour market participation and mortgage related borrowing constraints," IFS Working Papers W04/09, Institute for Fiscal Studies.
- Deaton, Angus, 1985. "Panel data from time series of cross-sections," Journal of Econometrics, Elsevier, vol. 30(1-2), pages 109-126.
- Steven Bourassa & Martin Hoesli, 2010.
"Why Do the Swiss Rent?,"
The Journal of Real Estate Finance and Economics,
Springer, vol. 40(3), pages 286-309, April.
- Maria Concetta Chiuri & Tullio Jappelli, 2006.
"Do the elderly reduce housing equity? An international comparison,"
CSEF Working Papers
158, Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy.
- Maria Chiuri & Tullio Jappelli, 2010. "Do the elderly reduce housing equity? An international comparison," Journal of Population Economics, Springer, vol. 23(2), pages 643-663, March.
- Chiuri, Maria Concetta & Jappelli, Tullio, 2008. "Do the elderly reduce housing equity? An international comparison," CFS Working Paper Series 2008/20, Center for Financial Studies (CFS).
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