American Dream Delayed: Shifting Determinants of Homeownership

Natalia Khorunzhina, Robert A. Miller

Publikation: KonferencebidragPaperForskningpeer review

Resumé

This paper develops and estimates a dynamic model of discrete choice for labor supply, fertility and transition from tenant to homeowner, to investigate the secular decline in homeownership over the past several decades, wholly attributable to households postponing the purchase of their first home. House prices only partly explain the decline; higher base level wages led to lower fertility also contributing to the decline, because households with children are more likely to own a home than those without. Somewhat surprisingly we find higher levels of female education ameliorated this trend, highly educated women placing greater value on home ownership.
OriginalsprogEngelsk
Publikationsdato2019
Antal sider47
StatusUdgivet - 2019
Begivenhed3rd Conference and Summer School on Structural Dynamic Models: Applications in Industrial Organization, Marketing, and Business Analytics - The University of Chicago Booth School of Business, Chicago, USA
Varighed: 10 jul. 201911 jul. 2019
Konferencens nummer: 3
https://dseconf.org/dse2019conf#

Konference

Konference3rd Conference and Summer School on Structural Dynamic Models
Nummer3
LokationThe University of Chicago Booth School of Business
LandUSA
ByChicago
Periode10/07/201911/07/2019
Internetadresse

Emneord

  • Housing demand
  • Fertility
  • Labor supply

Citer dette

Khorunzhina, N., & Miller, R. A. (2019). American Dream Delayed: Shifting Determinants of Homeownership. Afhandling præsenteret på 3rd Conference and Summer School on Structural Dynamic Models, Chicago, USA.
Khorunzhina, Natalia ; Miller, Robert A. / American Dream Delayed : Shifting Determinants of Homeownership. Afhandling præsenteret på 3rd Conference and Summer School on Structural Dynamic Models, Chicago, USA.47 s.
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Khorunzhina, N & Miller, RA 2019, 'American Dream Delayed: Shifting Determinants of Homeownership' Paper fremlagt ved 3rd Conference and Summer School on Structural Dynamic Models, Chicago, USA, 10/07/2019 - 11/07/2019, .

American Dream Delayed : Shifting Determinants of Homeownership. / Khorunzhina, Natalia; Miller, Robert A.

2019. Afhandling præsenteret på 3rd Conference and Summer School on Structural Dynamic Models, Chicago, USA.

Publikation: KonferencebidragPaperForskningpeer review

TY - CONF

T1 - American Dream Delayed

T2 - Shifting Determinants of Homeownership

AU - Khorunzhina, Natalia

AU - Miller, Robert A.

PY - 2019

Y1 - 2019

N2 - This paper develops and estimates a dynamic model of discrete choice for labor supply, fertility and transition from tenant to homeowner, to investigate the secular decline in homeownership over the past several decades, wholly attributable to households postponing the purchase of their first home. House prices only partly explain the decline; higher base level wages led to lower fertility also contributing to the decline, because households with children are more likely to own a home than those without. Somewhat surprisingly we find higher levels of female education ameliorated this trend, highly educated women placing greater value on home ownership.

AB - This paper develops and estimates a dynamic model of discrete choice for labor supply, fertility and transition from tenant to homeowner, to investigate the secular decline in homeownership over the past several decades, wholly attributable to households postponing the purchase of their first home. House prices only partly explain the decline; higher base level wages led to lower fertility also contributing to the decline, because households with children are more likely to own a home than those without. Somewhat surprisingly we find higher levels of female education ameliorated this trend, highly educated women placing greater value on home ownership.

KW - Housing demand

KW - Fertility

KW - Labor supply

KW - Housing Demand

KW - Fertility

KW - Labor supply

M3 - Paper

ER -

Khorunzhina N, Miller RA. American Dream Delayed: Shifting Determinants of Homeownership. 2019. Afhandling præsenteret på 3rd Conference and Summer School on Structural Dynamic Models, Chicago, USA.