Independent Living and Homeownership: An Analysis of Australian Youth

41 Pages Posted: 11 Jun 2007 Last revised: 31 Aug 2010

See all articles by Steven C. Bourassa

Steven C. Bourassa

Florida Atlantic University

R. Jean Haurin

affiliation not provided to SSRN

Donald R. Haurin

Ohio State University (OSU) - Economics

Patric H. Hendershott

University of Aberdeen - Centre for Property Research; National Bureau of Economic Research (NBER)

Date Written: September 1993

Abstract

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.

Suggested Citation

Bourassa, Steven C. and Haurin, R. Jean and Haurin, Donald R. and Hendershott, Patric H., Independent Living and Homeownership: An Analysis of Australian Youth (September 1993). NBER Working Paper No. w4450. Available at SSRN: https://ssrn.com/abstract=480248

Steven C. Bourassa (Contact Author)

Florida Atlantic University ( email )

777 Glades Road
Boca Raton, FL 33431
United States
5028077642 (Phone)

R. Jean Haurin

affiliation not provided to SSRN

No Address Available

Donald R. Haurin

Ohio State University (OSU) - Economics ( email )

154 N. Oval Mall
1010G Derby Hall
Columbus, OH 43210-1172
United States
614-292-0482 (Phone)
614-292-9530 (Fax)

Patric H. Hendershott

University of Aberdeen - Centre for Property Research ( email )

Aberdeen AB24 2UF
Scotland

National Bureau of Economic Research (NBER) ( email )

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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