Intergenerational effects of parental wealth on children's housing                     wealth

Ma, Kang‐Rae; Kang, Eun-Taek

doi:10.1177/0308518x15597128

Cited by 17 publications

(6 citation statements)

References 19 publications

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“…Primarily, this derives from the fact that such parents have accumulated economic resources over their own life course (Mulder & Smits, 1999), where housing property is also often the most efficient or tax effective means of transmission. Secondly, homeownership has also proven to have a socialization effect, with the children of property owners predisposed to homeownership preferences themselves (see Henretta, 1984;Lersch & Luijkx, 2015;Lux et al, 2016;Ma & Kang, 2015). A third transmission effect is mediated through geographical proximity, with in-kind support, the transfer of property rights, land or entire dwellings more frequently provided where parents and children stay closer to each other.…”

Section: Housing and The Generational Contractmentioning

confidence: 99%

Housing careers, intergenerational support and family relations

Ronald

Lennartz

2018

Housing Studies

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The home and family have always been mutually embedded, with the former central to the realization and reproduction of the latter. More recently, this mutuality has taken on a more critical salience as realignments in housing markets, employment and welfare states in many countries have worked together to undermine housing access for new households. In this context, families have become increasingly involved in smoothening the routes of young adults members up the 'housing ladder' into home ownership. Intergenerational support appears to have become much more widespread and not just confined to familialistic welfare regimes. The role of intergenerational support for housing remains, however, highly differentiated across countries, cities and regions, as well as uneven between social and income classes. This introduction to the Special Issue explores how the role of housing wealth transfers has impacted the renegotiation of the generational contract. In doing so, it sets the scene for the articles that follow, each of which contribute significantly to advancing understanding of housing as a key driver of contemporary social relations and inequalities.

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Section: Housing and The Generational Contractmentioning

confidence: 99%

Housing careers, intergenerational support and family relations

Ronald

Lennartz

2018

Housing Studies

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“…In the UK, Udagawa and Sanderson (2017) revealed that first-time home buyers with parental support were 4.6 years younger than those without parental support. Similarly, Ma and Kang (2015) found that adult children whose parents are wealthy are more likely to transit quickly to homeownership in Korea. The extent of parental impact varies in different time periods.…”

Section: Literature Reviewmentioning

confidence: 88%

Generational variations in the timing of entry into homeownership in Shanghai: The role of family formation and family of origin

Cui

et al. 2021

Urban Studies

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Radical housing reform has triggered tremendous changes in both housing supply and housing demand in China over the past four decades, leading to apparent generational fractures in homeownership. In contrast to the rising age of first dwelling purchasers in some Western countries, younger cohorts in China are entering homeownership at increasingly younger ages despite rising housing prices. Based on a retrospective survey conducted in Shanghai in 2018 and 2019, this study examines the changing roles of family formation and parental background in affecting the timing of entering homeownership across different cohorts. Employing event history analyses, this study demonstrates that transitions to first homeownership have become synchronised with family formation among younger cohorts, which implies the social norm of ‘marital home’. Furthermore, the results reveal that parental background is increasingly influential in determining the timing of first home purchase; men and individuals from one-child families are more likely to be the beneficiary of parental help to enter homeownership. Through the lens of cohort, this study contributes to understanding the changing role of family formation and family of origin, which are shaped by institutional and cultural transformations in China. The intensified intergenerational transmission leads to exacerbation of horizontal housing inequality, that is, some achieving homeownership at a younger age while others being shunned from homeownership in the context of worsening housing affordability.

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“…There is increasing evidence in Australia and internationally that parents represent an important source of finance for the purchase of owner-occupied housing. Rising house prices across major industrialised economies appear to have been both an enabler and cause of this development (Ma and Kang 2015;Scanlon, Blanc et al 2019). As house prices have increased, this has led to substantial increases in the housing wealth of existing home owners -especially older home owners-and accentuated the financing constraints faced by those wishing to transition into owner-occupation.…”

Section: The Contemporary Challenge Of Financing First-home Ownershipmentioning

confidence: 99%

Transitions into home ownership: a quantitative assessment

Whelan¹,

Atalay²,

Barrett³

et al. 2023

AHURI Final Report

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Related reports and documentsInquiry into financing first home ownership: opportunities and challenges https://www.ahuri.edu.au/research-in-progress/Inquiry-intofinancing-first-home-ownership-opportunities-and-challenges AHURI AHURI is a national independent research network with an expert not-for-profit research management company, AHURI Limited, at its centre. AHURI's mission is to deliver high quality research that influences policy development and practice change to improve the housing and urban environments of all Australians.Using high quality, independent evidence and through active, managed engagement, AHURI works to inform the policies and practices of governments and the housing and urban development industries, and stimulate debate in the broader Australian community. AHURI undertakes evidence-based policy development on a range of priority policy topics that are of interest to our audience groups, including housing and labour markets, urban growth and renewal, planning and infrastructure development, housing supply and affordability, homelessness, economic productivity, and social cohesion and wellbeing. AHURI Limited also gratefully acknowledges the contributions, both financial and in-kind, of its university research partners who have helped make the completion of this material possible. DisclaimerThe opinions in this report reflect the views of the authors and do not necessarily reflect those of AHURI Limited, its Board, its funding organisations or Inquiry Panel members. No responsibility is accepted by AHURI Limited, its Board or funders for the accuracy or omission of any statement, opinion, advice or information in this publication. AHURI journalAHURI Final Report journal series is a refereed series presenting the results of original research to a diverse readership of policy makers, researchers and practitioners. Peer review statementAn objective assessment of reports published in the AHURI journal series by carefully selected experts in the field ensures that material published is of the highest quality. The AHURI journal series employs a double-blind peer review of the full report, where anonymity is strictly observed between authors and referees.

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Intergenerational effects of parental wealth on children's housing wealth

Cited by 17 publications

References 19 publications

Housing careers, intergenerational support and family relations

Housing careers, intergenerational support and family relations

Generational variations in the timing of entry into homeownership in Shanghai: The role of family formation and family of origin

Transitions into home ownership: a quantitative assessment

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