Importance of government policies for home ownership rates: an international survey and analysis
2005 (English)Other (Other academic)
Home ownership rates increased in most countries after World War II. In a sample of 13 industrializedeconomies, home ownership rates increased from 56 percent in 1970 to 65 percent in 1990. However,in most countries analysed for this article it appears that home ownership rates have not changedsignificantly after 1990. Most governments have supported the home ownership sector with variouspolicy measures such as interest subsidies, building grants, income support, etc. This article presents aunique compilation of data on home ownership rates for the majority of the more industrializedcountries, presents a model of the determinants of home ownership rates and attempts to explain theincrease in home ownership rates, especially the role of government support. Data on governmentsupport policies has been collected by questionnaires completed by researchers in a large number ofcountries. A panel data set consisting of thirteen developed countries was developed and analysed withand without a fixed-effect model. The results indicate that there may be a positive correlation betweenhome ownership rates and government support systems. Moreover, it appears that government policiesto support home ownership implemented in non-anglophone countries may have been more effectivethan policies in anglophone countries. However, the sample size only allowed a preliminary evaluationof any patterns between the included variables.
Place, publisher, year, edition, pages
home ownership, government support, regression analysis, fixed-effect, international
Economics and Business
IdentifiersURN: urn:nbn:se:kth:diva-24282Local ID: Working Paper No. 54OAI: oai:DiVA.org:kth-24282DiVA: diva2:346227
QC 201008312010-08-312010-08-312010-08-31Bibliographically approved