Trends in Intergenerational Home Ownership and Wealth Transmission

Jo Blanden (), Andrew Eyles () and Stephen Machin
Additional contact information
Jo Blanden: School of Economics, University of Surrey
Andrew Eyles: Department of Economics, University College London

No 21-05, CEPEO Working Paper Series from UCL Centre for Education Policy and Equalising Opportunities

Abstract: Prior research on trends in intergenerational mobility in economic status has focused chiefly on income and earnings. There is hardly any research on trends in intergenerational wealth transmission, at least in part because of the rarity of cross- generational data with wealth measures good enough for a cross-time analysis to be undertaken. In the intergenerational setting, housing tenure data is more widely available than good data on total wealth. This paper uses cross-time changes in intergenerational associations in home ownership to generate evidence on trends in intergenerational wealth mobility. Both home ownership and the value of main residence are shown to be strongly associated with wealth accumulation. The strength of the intergenerational link in home ownership in the UK has grown over time and, as parental home ownership displays a strong relationship with an individual's future wealth, this can be informative about trends in intergenerational wealth transmission. Taken together, the results indicate that intergenerational wealth transmission has strengthened over time in Britain.

Keywords: Housing; intergenerational mobility; wealth; cohorts. (search for similar items in EconPapers)
JEL-codes: D31 J11 J62 R31 (search for similar items in EconPapers)
Pages: 44 pages
Date: 2021-04, Revised 2021-05
New Economics Papers: this item is included in nep-ltv and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (6)

Downloads: (external link)
https://repec-cepeo.ucl.ac.uk/cepeow/cepeowp21-05r1.pdf First revision, 2021 (application/pdf)

Related works:
Working Paper: Trends in intergenerational home ownership and wealth transmission (2021)
Working Paper: Trends in intergenerational home ownership and wealth transmission (2021)
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:ucl:cepeow:21-05

Access Statistics for this paper

More papers in CEPEO Working Paper Series from UCL Centre for Education Policy and Equalising Opportunities Contact information at EDIRC.
Bibliographic data for series maintained by Jake Anders ().