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http://hdl.handle.net/10419/47481
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| Title: | | Housing, home ownership, tenure choice, first-time home-buyers, marriage, income risk  |
| Authors: | | Fisher, Jonas D. M. Gervais, Martin |
| Issue Date: | | 2009 |
| Series/Report no.: | | IFS working papers 09,08 |
| Abstract: | | We document that home ownership of households with heads aged 25-44 years fell substantially between 1980 and 2000 and recovered only partially during the 2001{2005 housing boom. The 1980{2000 decline in young home ownership occurred as improvements in mortgage opportunities made it easier to purchase a home. This paper uses an equilibrium life-cycle model calibrated to micro and macro evidence to understand why young home ownership fell over a period when it became easier to own a home. Our findings indicate that a trend toward marrying later and the increase in household earnings risk that occurred after 1980 account for 3/5 to 4/5 of the decline in young home ownership. |
| Subjects: | | Housing home ownership tenure choice first-time home-buyers marriage income risk |
| JEL: | | E0 E2 J1 R21 |
| Document Type: | | Working Paper |
| Appears in Collections: | | IFS Working Papers, Institute for Fiscal Studies (IFS)
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