Trends in intergenerational homeownership mobility in France between 1960-2015
Barbara Castillo Rico
No 2008, AMSE Working Papers from Aix-Marseille School of Economics, France
We study intergenerational wealth mobility and its evolution in France over the period 1960-2015. More precisely, we identify the persistence of homeownership between parents and children as indicator of wealth mobility in France. We also provide evidence about different sources of heterogeneity in intergenerational homeownership associations in terms of education and geographic areas. Finally, we study the main transmission mechanism: direct financial transfers. We use all available French wealth surveys since 1986 and perform a data panelization using retrospective information. We document multiple results. First, intergenerational correlation in homeownership status has dramatically increased, particularly since the 1990s. Second, this rise is concentrated among people aged between 20 and 39 years old. Third, we observe higher wealth persistence at the top. Four, we find a strong significant effect of direct wealth transfers on the probability of becoming homeowner, which lasts 5 years. Moreover, parental support is substantially more important for households with no diploma, suggesting a crucial role of human capital on wealth formation. Finally, this phenomenon is intensified in areas with high urban concentration; highlighting the potential role of house prices as determinant of wealth social determinism.
Keywords: intergenerational mobility; homeownership; housing; wealth transmission (search for similar items in EconPapers)
JEL-codes: D31 J62 R21 (search for similar items in EconPapers)
Pages: 52 pages
New Economics Papers: this item is included in nep-eur, nep-his and nep-ure
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Working Paper: Trends in intergenerational homeownership mobility in France between 1960-2015 (2020)
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Persistent link: https://EconPapers.repec.org/RePEc:aim:wpaimx:2008
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