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Title:Explaining spatial variation in homeownership rates: Results for German regions PDF Logo
Authors:Lerbs, Oliver
Oberst, Christian
Issue Date:2011
Series/Report no.:CESifo working paper: Fiscal Policy, Macroeconomics and Growth 3377
Abstract:A wide range of aggregate data is used to examine the spatial variation in homeownership rates among a cross-section of 96 German planning regions. The analysis accounts for potential endogeneity of prices and affordability as well as for spatial dependence in homeownership levels. In addition to familiar demographic and socioeconomic variables, the regional price and affordability of owner-occupied housing, and the regional composition of the housing stock can be identified as important determinants of regional tenure choice patterns. At large, the above factors suffice to explain both the substantial disparities in homeownership rates between eastern and western Germany as well as between rural, urbanized and agglomerated locations. The results of this study offer some interesting implications for housing policy.
Subjects:homeownership
German regions
housing policy
JEL:R21
R31
R38
Document Type:Working Paper
Appears in Collections:CESifo Working Papers, CESifo Group Munich

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