Housing wealth accumulation: The role of public housing - HAL-SHS - Sciences de l'Homme et de la Société
Preprints, Working Papers, ... Year : 2014

Housing wealth accumulation: The role of public housing

Abstract

The public housing sector provides housing units at below-market rents, potentially allowing its tenants to save for a downpayment more quickly than they would have otherwise. In this paper, we analyze the effect of a spell in public housing on age at first-time homeownership using the French Housing Survey. We use a pseudo-panel approach that takes into account the specificities of the local housing market, to derive individual tenure transitions from multiple cross-sections data. Using an IV strategy to control for a potential selection into public housing, we jointly estimate public housing tenancy and duration before first-time homeownership, and take into account unobserved heterogeneity. Our results indicate that a spell in public housing increases the hazard to homeownership, supporting the idea that, in France, the public housing policy provides an important pathway to homeownership.
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Dates and versions

halshs-00925717 , version 1 (08-01-2014)

Identifiers

  • HAL Id : halshs-00925717 , version 1

Cite

Florence Goffette-Nagot, Modibo Sidibé. Housing wealth accumulation: The role of public housing. 2014. ⟨halshs-00925717⟩
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