Does Government Support Matter For Home Ownership Rates? An International Survey and Analysis
||Does Government Support Matter For Home Ownership Rates? An International Survey and Analysis
||Book of Abstracts: 2005 European Real Estate Society conference in association with the International Real Estate Society
||Home ownership rates increased in most countries after World War II. In a sample of 13 industrialized economies, home ownership rates increased from 56 percent in 1970 to 65 percent in 1990. However, in most countries analysed for this article it appears that home ownership rates have not changed significantly after 1990. Most governments have supported the home ownership sector with various policy measures such as interest subsidies, building grants, income support, etc. This article presents a unique compilation of data on home ownership rates for the majority of the more industrialized countries, presents a model of the determinants of home ownership rates and attempts to explain the increase in home ownership rates, especially the role of government support. Data on government support policies has been collected by questionnaires completed by researchers in a large number of countries. A panel data set consisting of thirteen developed countries was developed and analysed with and without a fixedeffect model. The results indicate that there may be a positive correlation between home ownership rates and government support systems. Moreover, it appears that government policies to support home ownership implemented in non-anglophone countries may have been more effective than policies in anglophone countries. However, the sample size only allowed a preliminary evaluation of any patterns between the included variables. Growth Management and Sustainability: A Challenge for Spatial Planning and Property Development
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