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Autor:innen: 
Erscheinungsjahr: 
2021
Schriftenreihe/Nr.: 
BGPE Discussion Paper No. 209
Verlag: 
Friedrich-Alexander-Universität Erlangen-Nürnberg, Erlangen und Nürnberg
Zusammenfassung: 
The paper analyzes the effects of mortgage interest deductibility and untaxed imputed rental income on the German homeownership. I use a general equilibrium life-cycle framework, where a minimum down-payment constraint on purchases of housing capital is the critical element of the model framework. I find that both tax policies would increase Germany's low homeownership rate. However, these tax policies would entail substantial welfare losses for individuals of all income quintiles in the long run. Finally, wealth effects are relatively small and the welfare analysis shows that individuals would prefer to live in an economy without preferential tax treatment of housing.
Schlagwörter: 
German homeownership rate
Housing taxation
Imputed rents
Mortgage deductibility
Capital accumulation
JEL: 
E62
H3
Dokumentart: 
Working Paper

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