Rising Inequalities in Access to Home Ownership among Young Households in France, 1973-2013
| Autor: | Sébastien Grobon, Carole Bonnet, Bertrand Garbinti |
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| Rok vydání: | 2019 |
| Předmět: |
Statistics and Probability
Economics and Econometrics Sociology and Political Science Inequality Family support media_common.quotation_subject 05 social sciences Oaxaca decomposition 0211 other engineering and technologies 021107 urban & regional planning Real estate 02 engineering and technology Interest rate 0502 economics and business Demographic economics Business 050207 economics Inheritance home ownership real estate wealth family transfers gift assistance inequalities JEL Classification D63 - D64 - J10 - R21 media_common |
| Zdroj: | SSRN Electronic Journal. |
| ISSN: | 1556-5068 |
| DOI: | 10.2139/ssrn.3352361 |
| Popis: | Amongst young households (ages 25 to 44), inequalities in first-time home-ownership and in the amount of acquired real estate assets have increased between the most modest and the most affluent groups over the past forty years. According to Insee’s Housing surveys, 32% of young low-income households were homeowners in 1973, as compared to only 16% in 2013. Beyond the role of macroeconomic and institutional factors (real estate prices, interest rates, term of loans granted, etc.), a decomposition of changes in ownership rates over the period using the “Oaxaca-Blinder” method highlights the role of changes in family structures (increasing proportion of single-parent families, decline in the share of couples with children in the most modest households) and the sharp decline in small rural home ownership. Family support – gift assistance, inheritance and other forms of aid – also played an important part in the 2000s : four out of ten recent homeowners benefited from it, two out of ten even receiving direct financial assistance for their purchase. This support increased significantly among wealthier households during the 2000s, contributing to a widening gap with the share of homeowners in the least well-off populations. Bonnet Carole, Garbinti Bertrand, Grobon Sébastien. Rising inequalities in access to home ownership among young households in France, 1973-2013. In: Economie et Statistique / Economics and Statistics, n°500-502, 2018. Housing and housing markets. pp. 117-138. |
| Databáze: | OpenAIRE |
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