Housing wealth accumulation: The role of public housing

Florence Goffette-Nagot and Modibo Sidibe

Working Papers from HAL

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 effect 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 specificities 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)
Date: 2014-01-08
New Economics Papers: this item is included in nep-eur and nep-ure
Note: View the original document on HAL open archive server: https://shs.hal.science/halshs-00925717v1
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Related works:
Working Paper: Housing wealth accumulation: The role of public housing (2013)
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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