House Prices and Home Ownership: a Cohort Analysis

Renata Bottazzi, Thomas Crossley () and Matthew Wakefield

Working Papers from Dipartimento Scienze Economiche, Universita' di Bologna

Abstract: England has very volatile house prices. We use pseudo-panel data spanning multiple house-price cycles over nearly forty years, to assess the extent to which house prices affect access to homeownership by age thirty, and whether differences in ownership rates persist. We find that ownership rates at age thirty have varied substantially, with this variation significantly related to prices. Measurement error problems attenuation bias and other biases - complicate an analysis of the persistence of these differences in ownership. We use two methods - including one that develops the ideas of Deaton (1985) - to deal with this and find robust evidence that cohorts with low ownership rates at thirty close about 80% of the ownership gap by age forty.

JEL-codes: R21 R31 (search for similar items in EconPapers)
Date: 2011-09
New Economics Papers: this item is included in nep-hme and nep-ure
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:bol:bodewp:wp790

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