Housing affordability and parental income support

Saved in:

Authors and Corporations:

Allen, Jason (Author), Carmichael, Kyra (Author), Clark, Robert (Author), Li, Shaoteng (Author), Vincent, Nicolas (Author)

Other Authors:

Carmichael, Kyra [Author] • Clark, Robert [Author] • Li, Shaoteng [Author] • Vincent, Nicolas [Author]

Edition:

Last updated: July 26, 2024

Type of Resource:

E-Book

Language:

English

published:

[Ottawa] Bank of Canada [2024]

Series:

Subjects:

Housing

Financial services

Financial system regulation and policies

Graue Literatur

Source:

Verbunddaten SWB
Lizenzfreie Online-Ressourcen

Description
Summary:	In many countries, the cost of housing has greatly outpaced income growth, leading to a housing affordability crisis. Leveraging Canadian loan-level data and quasi-experimental variation in payment-to-income constraints, we document an increasing reliance of first-time homebuyers on financial help from their parents, through mortgage co-signing. We show that parental support can effectively relax borrowing constraints-potentially to riskier borrowers.
Physical Description:	1 Online-Ressource (circa 48 Seiten); Illustrationen
DOI:	10.34989/swp-2024-28