{"title":"Lost in Transition: A Cohort Analysis of Catch‐Up in Homeownership in Australia*","authors":"Kadir Atalay, Rebecca Edwards, Fang Han","doi":"10.1111/1475-4932.12831","DOIUrl":null,"url":null,"abstract":"We study how housing market conditions shape the housing careers of Australians. Utilising data from the Australian Census spanning from 1991 to 2021, we observe significant differences in ownership rates at age 30 across birth cohorts. Moreover, these differences widen significantly as housing affordability falls. Using synthetic cohort techniques, we evaluate the persistence of these differences. Our results reveal that while the homeownership rates of younger cohorts ‘catch up’ somewhat with those of their older counterparts, a substantial gap remains at age 50. Early access to homeownership is also linked to the ownership of larger homes by middle age. Our study underscores the long‐term consequences of housing market conditions on homeownership trajectories.","PeriodicalId":47484,"journal":{"name":"Economic Record","volume":null,"pages":null},"PeriodicalIF":1.1000,"publicationDate":"2024-09-10","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":null,"platform":"Semanticscholar","paperid":null,"PeriodicalName":"Economic Record","FirstCategoryId":"96","ListUrlMain":"https://doi.org/10.1111/1475-4932.12831","RegionNum":4,"RegionCategory":"经济学","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q3","JCRName":"ECONOMICS","Score":null,"Total":0}
引用次数: 0
Abstract
We study how housing market conditions shape the housing careers of Australians. Utilising data from the Australian Census spanning from 1991 to 2021, we observe significant differences in ownership rates at age 30 across birth cohorts. Moreover, these differences widen significantly as housing affordability falls. Using synthetic cohort techniques, we evaluate the persistence of these differences. Our results reveal that while the homeownership rates of younger cohorts ‘catch up’ somewhat with those of their older counterparts, a substantial gap remains at age 50. Early access to homeownership is also linked to the ownership of larger homes by middle age. Our study underscores the long‐term consequences of housing market conditions on homeownership trajectories.
期刊介绍：
Published on behalf of the Economic Society of Australia, the Economic Record is intended to act as a vehicle for the communication of advances in knowledge and understanding in economics. It publishes papers in the theoretical, applied and policy areas of economics and provides a forum for research on the Australian economy. It also publishes surveys in economics and book reviews to facilitate the dissemination of knowledge.
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