Please use this identifier to cite or link to this item: https://hdl.handle.net/10419/263929 
Year of Publication: 
2022
Series/Report no.: 
Tinbergen Institute Discussion Paper No. TI 2022-009/II
Publisher: 
Tinbergen Institute, Amsterdam and Rotterdam
Abstract: 
Cross-country differences in homeownership rates are large and persistent over time, with homeownership rates ranging from 44% in Switzerland to 83% in Spain. This paper investigates whether cultures-defined as behavioral attitudes passed across generations-may value homeownership differently, and could thus be a driving demand factor of the homeownership decision. To isolate the effect of cultural preferences regarding homeownership from the impact of other economic factors, we investigate second-generation immigrants' homeownership decisions 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 Markets
Homeownership Rates
Cross-Country Heterogeneity
Cultural Transmission
Household Housing decisions
JEL: 
G11
G40
R21
Z10
Document Type: 
Working Paper

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