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The determinants of homeownership across Europe: panel data evidence

Hilber, Christian (2007) The determinants of homeownership across Europe: panel data evidence. Christian Hilber, London, UK. (Unpublished)

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Abstract

This paper exploits the panel structure of the ECHP micro data and uses fixed effects-specifications to identify the main determinants of equilibrium housing tenure outcomes across Europe between 1994 and 2001. The accommodation type which affects both the relative supply of and demand for owner-occupied housing has the strongest impact. Holding occupant and location characteristics (including preferences for homeownership) constant, a flat in a small apartment building has a roughly 40 percentage points lower probability of being owner-occupied than a detached house. Among the occupants characteristics, only age has a quantitatively meaningful positive impact. At the regional level, the housing stock composition and the share of public rental housing are the main identifiable determinants of the vast homeownership rate differentials. Tax policy reforms have only had relatively minor effects on homeownership attainment and, counter to widespread perception; spatial differences in intergenerational cohesion do not explain homeownership rate differentials.

Item Type: Monograph (Working Paper)
Official URL: http://personal.lse.ac.uk/hilber/
Additional Information: © 2007 The Author
Library of Congress subject classification: H Social Sciences > HT Communities. Classes. Races
H Social Sciences > HD Industries. Land use. Labor
Sets: Collections > Economists Online
Departments > Geography and Environment
Rights: http://www.lse.ac.uk/library/usingTheLibrary/academicSupport/OA/depositYourResearch.aspx
Date Deposited: 14 Jul 2008 16:50
URL: http://eprints.lse.ac.uk/6733/

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