TY - JOUR
T1 - Determinants of the Homeownership Rate
T2 - An International Perspective
AU - Bourassa, Steven C.
AU - Haurin, Donald R.
AU - Hendershott, Patric H.
AU - Hoesli, Martin
N1 - We thank the National Association of Home Builders for supporting the project
‘‘International Differences in Homeownership and Housing Tax Rules’’ and Ross Brater for his research assistance.
PY - 2015
Y1 - 2015
N2 - We present a comprehensive model of household tenure choice that guides our review of the literature on the impacts of tax and subsidy policies and focuses our critiques of various methodologies. We discuss the impacts on the likelihood of homeownership of house price capitalization and individuals' choices of household structure, loan-to-value ratio, and wealth accumulation. We argue that the best empirical studies use panel household-level data and a large set of measures of housing taxes and subsidies, macroeconomic variables, and household characteristics. We review three studies that illustrate the benefits and challenges of modeling the homeownership decision across countries.
AB - We present a comprehensive model of household tenure choice that guides our review of the literature on the impacts of tax and subsidy policies and focuses our critiques of various methodologies. We discuss the impacts on the likelihood of homeownership of house price capitalization and individuals' choices of household structure, loan-to-value ratio, and wealth accumulation. We argue that the best empirical studies use panel household-level data and a large set of measures of housing taxes and subsidies, macroeconomic variables, and household characteristics. We review three studies that illustrate the benefits and challenges of modeling the homeownership decision across countries.
M3 - Article
VL - 24
SP - 193
EP - 210
JO - Journal of Housing Research
JF - Journal of Housing Research
SN - 1052-7001
IS - 2
ER -