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Author: Gervais, Martin
Resulting in 1 citation.
1. Fisher, Jonas D. M.
Gervais, Martin
Why Has Home Ownership Fallen Among the Young?
International Economic Review 52,3 (August 2011): 883-912.
Also: http://onlinelibrary.wiley.com/doi/10.1111/j.1468-2354.2011.00653.x/full
Cohort(s): NLSY79
Publisher: Blackwell Publishing, Inc. => Wiley Online
Keyword(s): Home Ownership; Modeling

We document that home ownership of households with “heads” aged 25–44 years fell substantially between 1980 and 2000 and recovered only partially during the 2001–5 housing boom. The 1980–2000 decline in young home ownership occurred as improvements in mortgage opportunities seemingly made it easier to purchase a home. This article uses an equilibrium life-cycle model calibrated to micro and macro evidence to understand these developments. A trend toward marrying later mechanically lowers young home ownership after 1980. We show that the large rise in earnings risk that occurred after 1980 can easily account for the remaining decline in young home ownership.
Bibliography Citation
Fisher, Jonas D. M. and Martin Gervais. "Why Has Home Ownership Fallen Among the Young? ." International Economic Review 52,3 (August 2011): 883-912.