A Dynamic Analysis of First-Time Homeownership: Different Family Type Perspective

• Main Authors: Jiun-Huai Ju, 朱君懷
• Other Authors: Bor-Ming Hsieh
• Format: Others
• Language: zh-TW
• Published: 2005
• Online Access: http://ndltd.ncl.edu.tw/handle/72801246864038904773

碩士 === 長榮大學 === 土地管理與開發學系碩士班 === 93 === The decision of home buying is not a static decision in a single period but a dynamic decision during multiple periods. Therefore, previous studies have suggested that a dynamic model can be a better way to estimate the dynamic decision of first time homeownership process. Some research questions have been explored in this study as: what factors have influences on the household’s first time home buying process in its life cycle? What are the influences of these factors on the household’s first time homeownership? What is the difference between households with different family types such as single, couple and nuclear family on their first time home buying decision behavior? The data used in is study come from the Panel Study of Family Dynamics. The age cohort of the household is between 36 and 45. The retrospective method is used to collect effective sample and household information. In order to estimate the dynamic home buying decision, the data have been developed to time depended condition as the person-year condition which is based on every sampled household’s duration from its first time employment to becoming first time homeowner. The determinants of the household’s dynamic first time homeownership decision can be classified into time-depended factors and non-time-depended factors. A discrete time logit model is employed in this study to estimate the impact of those determinants on the household’s first time homeownership decision behavior. The results show that coupled households have higher propensity to enter the owner-occupied sector compared to single and nuclear families. Households with higher education degree have higher likelihood to become first time homeowners. It was found that getting married is the most important factor to trigger households with all three different family types to become first time homeowners. Having children also have significant impact to increase the propensity to be homeowners. As a result, this study concludes that some specific events such as marriage and children bearing have important and significant influences on the household’s housing career as well as homeownership decision.