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Intergenerational transfers and housing tenure

Intergenerational transfers and housing tenure: Australian evidence

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© Kristin Cleage, www.findingeliza.com (we have secured the right to use it with credits)

In cooperation with INTEGRATE ((opens in a new window)www.integratenet.org) please feel invited to our public lecture series:

Prof. Stephen Whelan (School of Economics, University of Sydney)

Intergenerational transfers and housing tenure: Australian evidence

Thursday, 19th November 2015 at 4 pm in C102, Hanna Sheehy Skeffington Building

Abstract: Increasing concern has been expressed about declines in the homeownership rate over the past two?decades, especially among younger Australians. Although such developments are closely associated with social and demographic developments, increasing house prices are commonly cited as a key reason why homeownership has become increasingly difficult to attain. One means by which home ownership can be facilitated is through intergenerational transfers in the form of gifts from parents and bequests. In this paper, we examine the effect of the receipt of such transfers on entry into first?time homeownership. We find that a substantial impact of bequests and intergeneration gifts from parents on the hazard into first?time homeownership. Large bequests and gifts effectively double the hazard rate into ownership. The analysis highlights the role that tax and transfer policies may play on transitions into homeownership.

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