Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/206397
Authors: 
Huber, Stefanie J.
Schmidt, Tobias
Year of Publication: 
2019
Series/Report no.: 
Bundesbank Discussion Paper No. 40/2019
Abstract: 
Cross-country differences in homeownership rates are large and persistent over time, with homeownership rates ranging from 40% in Switzerland to 80% in Spain. This paper investigates whether culture is a driving factor of the homeownership decision, and could thus explain part of the cross-country differences in homeownership rates. To isolate the effect of cultural preferences regarding homeownership from the impact of institutions and economic factors, we investigate the homeownership decisions of second-generation immigrants in the United States between 1994 and 2017. Our findings indicate that cultural preferences for homeownership are persistent, transmitted between generations, and substantially influence the rent-versus-buy decision.
Subjects: 
housing decisions
second generationmigrants
epidemological approach
JEL: 
G40
R21
Z10
ISBN: 
978-3-95729-639-9
Document Type: 
Working Paper

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