Homeownership and Portfolio Choice Over the Generations
نویسندگان
چکیده
Earnings are riskier and more unequal for households born in the 1960s 1980s than those 1940s. Despite improvements financial conditions, younger generations less likely to be living their own homes older at same age. By using a life-cycle model with housing portfolio choice that includes flexible earnings risk aggregate asset price risk, I show changes dynamics account large part of reduction homeownership across generations. Lower-income find it harder buy housing, as result accumulate wealth. JEL Classification: D31, E21, E24, G11, J31
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ژورنال
عنوان ژورنال: Social Science Research Network
سال: 2021
ISSN: ['1556-5068']
DOI: https://doi.org/10.2139/ssrn.3797142