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Homeownership and the life cycle: an ordered logit approach

Bart Capéau, André Decoster and Frederic Vermeulen

Public Economics Working Paper Series from Katholieke Universiteit Leuven, Centrum voor Economische Studiën, Working Group Public Economics

Abstract: This paper presents an ordered logit approach to model the optimal timing of buying a house during the life cycle. The model is applied to three recent Belgian household budget surveys. We find that households postpone homeownership or choose to be lifelong tenant due to an increase of the transaction tax rate, the real interest rate on mortgages and an indicator for the evolution of real house prices. Expenditures on nondurables, on the contrary, have a positive impact on (early) homeownership.

Keywords: homeownership; life cycle; transaction tax (search for similar items in EconPapers)
JEL-codes: D12 R21 (search for similar items in EconPapers)
Pages: 12 pp.
Date: 2003
New Economics Papers: this item is included in nep-dcm, nep-geo and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (4)

Forthcoming in revised form in Applied Economics Quarterly, Vol. 51, issue 4 (2005).

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