Intergenerational Homeownership — The gap in homeownership over generation and its drivers
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School of Business |
Bachelor's thesis
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Date
2024
Department
Major/Subject
Mcode
Degree programme
Bachelor’s programme in Economics
Language
en
Pages
26
Series
Abstract
The housing landscape in the U.S. has shifted dramatically in recent years, introducing substantial number of obstacles for younger generations aspiring to home ownership. Research has shown that, contrary to better educational attainment and financial situation, households whose are born recently are not doing as good as their elder counterparts when of the same age, with regard to purchasing residential property. This literature review aims to identify the main drivers of the gap in the housing position among these generations, thereby proposing solutions to alleviate the problem from an economics perspective. Using the United States as case study, I find that the differences can be explained mostly via the incompatibility of earning risks and housing price trends across generations. Additionally, shifts in demographic characteristics also play a role in determining generational variations in housing decision.Description
Thesis advisor
Kitti, MitriKeywords
home ownership, inter-generational wealth, delayed marriage, earning risk, birth cohorts