Do homeowners save more? – Evidence from the Panel on Household Finances (PHF)

Tobias Schmidt and Julia Le Blanc

ERES from European Real Estate Society (ERES)

Abstract: In this paper we analyse the impact of property ownership on the saving behaviour of households. We are particularly interested in investigating whether homeowners save more than renters or not. A related question is whether mortgage payments and other regular savings are substitutes or complements for German households. To answer these questions we use a large cross-sectional dataset on individual households’ finances and employ a matching estimator. We find that households owning property and repaying mortgages do save more than renters, if contractual savings and mortgage payments are summed up. However, the difference between regular savings flows of renters and owners is small and insignificant. Owners do not seem to substitute contractual savings with mortgage payments.

Keywords: Homeownership; household saving; survey data (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2017-07-01
New Economics Papers: this item is included in nep-pay and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

Downloads: (external link)
https://eres.architexturez.net/doc/oai-eres-id-eres2017-110 (text/html)
https://eres.architexturez.net/system/files/110.pdf (application/pdf)

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2017_110

Access Statistics for this paper

More papers in ERES from European Real Estate Society (ERES) Contact information at EDIRC.
Bibliographic data for series maintained by Architexturez Imprints ().