Housing wealth accumulation: The role of public housing

Florence Goffette-Nagot and Modibo Sidibé
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Modibo Sidibé: Duke University, Department of Economics, Duke University, United States

No 1343, Working Papers from Groupe d'Analyse et de Théorie Economique Lyon St-Étienne (GATE Lyon St-Étienne), Université de Lyon

Abstract: The public housing sector provides housing units at below-market rents, potentially allowing its tenants to save for a downpayment more quickly than they would have otherwise. In this paper, we analyze the e-ffect of a spell in public housing on age at first-time homeownership using the French Housing Survey. We use a pseudo-panel approach that takes into account the speci-cities of the local housing market, to derive individual tenure transitions from multiple cross-sections data. Using an IV strategy to control for a potential selection into public housing, we jointly estimate public housing tenancy and duration before -first-time homeownership, and take into account unobserved heterogeneity. Our results indicate that a spell in public housing increases the hazard to homeownership, supporting the idea that, in France, the public housing policy provides an important pathway to homeownership.

Keywords: Homeownership; Public housing; Tenure choice; Duration model; Unobserved heterogeneity (search for similar items in EconPapers)
JEL-codes: C41 R21 R31 R38 (search for similar items in EconPapers)
Date: 2013
New Economics Papers: this item is included in nep-eur and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

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ftp://ftp.gate.cnrs.fr/RePEc/2013/1343.pdf (application/pdf)

Related works:
Working Paper: Housing wealth accumulation: The role of public housing (2014)
Working Paper: Housing Wealth Accumulation: The Role of Public Housing (2013)
Working Paper: Housing Wealth Accumulation: The Role of Public Housing (2012)
Working Paper: Housing Wealth Accumulation: The Role of Public Housing (2011)
Working Paper: Housing Wealth Accumulation: The Role of Public Housing (2011)
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Persistent link: https://EconPapers.repec.org/RePEc:gat:wpaper:1343

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