Young adult homeownership rates in the U.S. are considerably lower than in Britain, even though overall homeownership rates in the two countries are almost identical. By implication, U.S. young adults have a slower rate of transition into homeownership. This paper employs a common theoretical...

The clich¨¦ ¡°once a homeowner, always a homeowner¡± is not true. We study the causes of terminations of spells of first-time homeownership.Using a national panel data set, we find that the likelihood of a household terminating a spell of homeownership is predictable at the time of...

The rate of transition of young adults from living with parents or renting to homeownership affects the national homeownership rate. There are substantial racial and ethnic differences in the length of time that it takes for this transition to occur, contributing to the well-known racial gaps in...