Jan 25th

11:30 am to 12:30 pm

M. Fischer, University of Konstanz

Will present the following paper: “Who buys homes when prices fall?”

Abstract: We study the transition to and from homeownership under the recent housing market bust using micro-level data covering the entire Danish population. We document that after controlling for various sociodemographic and market characteristics, younger households and households with negative levels of net worth reduced their likelihood to acquire homeownership during the bust more than other households whereas households with children increased their likelihood. Similarly, younger households increased their likelihood to abandon homeownership during the bust more than other households. This pattern is likely to have contributed to a significant inter-generational shift in homeownership from younger to older households.

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