TY  - JOUR
AU  - Bourassa,Steven C.
AU  - Haurin,Donald R.
AU  - Haurin,R. Jean
AU  - Hendershott,Patric H.
TI  - Independent Living and Homeownership: An Analysis of Australian Youth
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 4450
PY  - 1993
Y2  - September 1993
UR  - http://www.nber.org/papers/w4450
L1  - http://www.nber.org/papers/w4450.pdf
N1  - Author contact info:
Donald R. Haurin
E-Mail: haurin.2@osu.edu

Patric H. Hendershott
Fisher Hall
Ohio State University
2100 Neil Avenue
Columbus, OH 43210
Tel: 218/963-1393
Fax: 218/963-9484
E-Mail: hendershott.2@osu.edu
AB  - 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.
ER  -