Intergenerational home ownership

Blanden, Jo, Eyles, Andrew and Machin, Stephen ORCID: 0009-0004-8130-2701 (2023) Intergenerational home ownership. Journal of Economic Inequality, 21 (2). 251 - 275. ISSN 1569-1721

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Abstract

This paper studies intergenerational links in home ownership, an increasingly important wealth marker and a measure of economic status in itself. Repeated cross sectional UK data show that home ownership rates have fallen rapidly over time, most markedly amongst younger people in more recent birth cohorts. Evidence from British birth cohorts data supplemented by the Wealth and Assets Survey show a significant rise through time in the intergenerational persistence of home ownership, as home ownership rates shrank disproportionately among those whose parents did not own their own home. Given the close connection between home ownership and wealth, these results on strengthening intergenerational persistence in home ownership are therefore also suggestive of a fall in intergenerational housing wealth mobility over time.

Item Type:	Article
Official URL:	https://link.springer.com/journal/10888
Additional Information:	© 2023 The Author(s).
Divisions:	Centre for Economic Performance LSE Economics
Subjects:	H Social Sciences > HB Economic Theory H Social Sciences
JEL classification:	R - Urban, Rural, and Regional Economics > R3 - Production Analysis and Firm Location > R31 - Housing Supply and Markets J - Labor and Demographic Economics > J1 - Demographic Economics > J11 - Demographic Trends and Forecasts D - Microeconomics > D3 - Distribution > D31 - Personal Income, Wealth, and Their Distributions J - Labor and Demographic Economics > J6 - Mobility, Unemployment, and Vacancies > J62 - Job, Occupational, and Intergenerational Mobility
Date Deposited:	14 Apr 2023 14:00
Last Modified:	18 Nov 2024 17:27
URI:	http://eprints.lse.ac.uk/id/eprint/118638

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