NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

Independent Living and Homeownership: An Analysis of Australian Youth

Steven C. Bourassa, Donald R. Haurin, R. Jean Haurin, Patric H. Hendershott

NBER Working Paper No. 4450
Issued in September 1993
NBER Program(s):   PE

This study extends recent work that developed and tested economic models of the joint decisions of household formation and homeownership. The cost of shelter is an important determinant of whether youth live independently (apart from parents and other nonrelated adults), and the cost of homeownership relative to renting is important to the tenure decision. Simulations suggest that the post-1985 decline and eventual removal of the Australian subsidy for first time homeowners has lowered the homeownership rate among young households by 23 percent, which is equivalent to slowing the time to first ownership by two years for such households.

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Document Object Identifier (DOI): 10.3386/w4450

Published: Australian Economic Review, July-September 1994, pp. 29-44. citation courtesy of

 
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