Geographic and dynamic heterogeneity of home ownership

This paper analyses the determination of the demand for home ownership. The determinants include prices and short- and medium-term price changes, public regulation (regulation of house rent, housing subsidies, taxation), competition from alternative residence forms (measured by supply of subsidised...

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Bibliographic Details
Published in:Journal of housing and the built environment 2009-04, Vol.24 (1), p.1-17
Main Authors: Lauridsen, Jørgen, Nannerup, Niels, Skak, Morten
Format: Article
Language:English
Subjects:
Censuses
Couples
Credit ratings
Denmark
Econometrics
Economic geography
Geography
Heterogeneity
Home
Home ownership
Home ownership rates
Households
Housing
Housing market
Housing prices
Housing subsidies
Human Geography
Landscape/Regional and Urban Planning
Low income groups
Municipalities
Population density
Population distributions
Population dynamics
Population education
Price changes
Price increases
Property
Real estate market
Social Sciences
Studies
Tax rates
Taxation
Urban density
Urban space
Urbanization
Wealth
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Summary:This paper analyses the determination of the demand for home ownership. The determinants include prices and short- and medium-term price changes, public regulation (regulation of house rent, housing subsidies, taxation), competition from alternative residence forms (measured by supply of subsidised housing), social composition of population (age, social benefit recipients, household composition, civil status, education, nationality), economic ability (income), and congestion (measured by population density and degree of urbanisation). The study applies Danish aggregate data for 270 Danish municipalities, available annually for the period 1999-2004. The effects of determinants on home ownership rates are allowed to be heterogeneous by years and municipalities using temporally and geographically expanded coefficients. Considerable parametric heterogeneity over time as well as across municipalities is found, even when residual dynamic heterogeneity and interdependency as well as residual spatial spillover is controlled for.
ISSN:1566-4910
1573-7772
DOI:10.1007/s10901-008-9127-8