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- W3208135220 abstract "Cross-country differences in homeownership rates are large and persistent over time, with homeownership rates ranging from 44% in Switzerland to 83% in Spain. This paper investigates whether cultures—defined as behavioral attitudes passed across generations—may value homeownership differently, and could thus be a driving demand factor of the homeownership decision. To isolate the effect of cultural preferences regarding homeownership from the impact of other economic factors, we investigate second-generation immigrants’ homeownership decisions in the United States between 1994 and 2017. Our findings indicate that cultural preferences for homeownership are persistent, transmitted between generations, and substantially influence the rent-versus-buy decision. • Cross-country differences in homeownership rates are large and persistent over time. • Cultural preferences for homeownership are transmitted between generations of migrants. • Culture substantially influences the rent-versus-buy decision of migrants in the US. • The “culture” effect is stronger the larger the exposure to the cultural heritage." @default.
- W3208135220 created "2021-11-08" @default.
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- W3208135220 date "2022-03-01" @default.
- W3208135220 modified "2023-09-26" @default.
- W3208135220 title "Nevertheless, they persist: Cross-country differences in homeownership behavior" @default.
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- W3208135220 doi "https://doi.org/10.1016/j.jhe.2021.101804" @default.
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