Who’s on First? Characteristics of First-Time Homebuyers

Donghoon Lee and Joseph Tracy

No 20190410, Liberty Street Economics from Federal Reserve Bank of New York

Abstract: In our previous post, we presented a new measure of first-time homebuyers. In this post, we use this improved measure to describe the characteristics of first-time buyers and how those characteristics change over time. Having an accurate assessment of first-time buyers is important given that the aim of many housing policies is to support the transition from renting to owning. A proper assessment of these housing policies requires an understanding of the impact of these policies on the share of first-time buyers and the characteristics of these buyers. Our third post will directly examine the sustainability of homeownership by first-time buyers.

Keywords: Consumer Credit Panel; mortgage; first-time home buyers (search for similar items in EconPapers)
JEL-codes: D12 R31 (search for similar items in EconPapers)
Date: 2019-04-10
New Economics Papers: this item is included in nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:fip:fednls:87325

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