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What Are the Perceived Barriers to Homeownership for Young Adults?
Jeff Larrimore (au); Jenny Schuetz (au); Samuel Dodini (au)
As the U.S. emerges from the Great Recession, there is concern about slowing rates of new household formation and declining interest in homeownership, especially among younger households. This paper examines how individual housing choices, and the stated motivations for these choices, reflect local housing affordability and individual financial circumstances, focusing particularly on young households. The authors find that housing affordability is correlated with county-level tenure rates and individual-level probability of homeownership for households with heads under age 40. However, it appears that young householdsäó» perceived barriers to homeownership are more closely related to individual financial circumstances than local housing market conditions. Figures and tables. This is a print on demand report.
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