Cross-country differences in homeownership: a cultural phenomenon?

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Bibliographic Details
Authors and Corporations:	Huber, Stefanie J. (Author), Schmidt, Tobias (Author)
Other Authors:	Schmidt, Tobias 1975- [Author]
Type of Resource:	E-Book
Language:	English
published:	Frankfurt am Main Deutsche Bundesbank [2019]
Series:	Deutsche Bundesbank: Discussion paper ; no 2019, 40
Subjects:	Housing decisions second generationmigrants epidemological approach Graue Literatur
Source:	Verbunddaten SWB Lizenzfreie Online-Ressourcen
ISBN:	9783957296399

Description
Summary:	Cross-country differences in homeownership rates are large and persistent over time, with homeownership rates ranging from 40% in Switzerland to 80% in Spain. This paper investigates whether culture is a driving factor of the homeownership decision, and could thus explain part of the cross-country differences in homeownership rates. To isolate the effect of cultural preferences regarding homeownership from the impact of institutions and economic factors, we investigate the homeownership decisions of second-generation immigrants in the United States between 1994 and 2017. Our findings indicate that cultural preferences for homeownership are persistent, transmitted between generations, and substantially influence the rent-versus-buy decision.
Physical Description:	1 Online-Ressource (circa 62 Seiten); Illustrationen
ISBN:	9783957296399