Urbanity, Financial Crisis and the Timing of Homebuying Decisions by Young Households

• Published in: The journal of real estate finance and economics Vol. 62; no. 4; pp. 481 - 507
• Main Authors: Kim, Dongshin, Seo, Youngme, Freybote, Julia
• Format: Journal Article
• Language: English
• Published: New York Springer US 01.05.2021; Springer Nature B.V
• Subjects: Economic conditions; Economic crisis; Economics; Economics and Finance; Financial Services; Home ownership; Households; Job opportunities; Mobility; Prices; Race; Regional/Spatial Science; Timing; Urban areas; Wealth; Young adults; R21; Urban; R31; Homeownership; O18; First-time homebuyers; Intertemporal dynamics; Cox regression

Large urban areas have a high appeal to young households, particularly highly educated ones, as they offer higher wages, more job opportunities and urban amenities. However, large urban areas are also characterized by higher rental rates and single-family home prices. We investigate the timing of ho...