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Paper eres2016_47:
Cross-Country Differences in Homeownership: A Cultural Phenomenon?

id eres2016_47
authors Huber, Stefanie J.; Tobias Schmidt
year 2016
title Cross-Country Differences in Homeownership: A Cultural Phenomenon?
source 23rd Annual European Real Estate Society Conference in Regensburg, Germany
summary Cross-country differences in homeownership rates are large and very persistent over time, ranging between 35% in Switzerland to 80% in Spain. In this project we test the hypothesis that these cross-country differences are driven by cultural tastes. To isolate the effect of culture from the effects of institutions and economic factors, we investigate the homeownership attitudes of second generation immigrants in the United States. We find robust evidence that cross-country differences in cultural preferences are an important explanatory factor for the observed persistent differ- ences in homeownership rates across countries.Keywords: housing markets, homeownership rates, country heterogeneity, preferences, cultural transmission, migrationJEL Classifications: E00, R21, R23, J15, O18, Z10.
series ERES:conference
type paper session
discussion No discussions. Post discussion ...
ratings
session Residential Real Estate
last changed 2017/11/18 16:16
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