'Cross-Country Differences in Homeownership Rates: A Cultural Phenomenon?'
Cross-country differences in homeownership rates are large and very persistent over time, ranging between 44% in Switzerland to 83% in Spain. In this project, we test the hypothesis that cultural tastes drive these cross-country differences. To isolate the effect of cultural preferences towards homeownership from the impact of institutions and economic factors, we investigate the homeownership attitudes of second-generation immigrants in the United States during 1994 to 2017. We find robust evidence that cross-country differences in cultural preferences towards homeownership are an important explanatory factor for the observed persistent differences in homeownership rates across countries (joint with Tobias Schmidt)
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