SEMILUX is coming in hybrid mode!
The University, LIS Datacenter and LISER invite you for a hybrid session of the monthly seminar on social inequality and public policies, which will be held ONLINE and IN-PERSON due to COVID-19.
Speaker: Dr Nora Müller (Senior Researcher at GESIS, Research Institute for the Social Sciences, Mannheim)
Title: The Keys to the House – How Wealth Transfers Stratify Homeownership Opportunities
Authors: Jascha Dräger, Nora Müller & Klaus Pforr
Abstract: This study investigates the extent to which social stratification in the transition to homeownership can be attributed to intergenerational wealth transfers, including both actual and anticipated transfers. Drawing on data from the German Socio-Economic Panel Study, we employ discrete time survival models to assess the impact of parental socio-economic status (SES), anticipated transfers, and actual transfers on the likelihood of individuals transitioning to homeownership. The hazard rate of individuals with low-skilled parents is only 2.3%, compared to 2.9% among individuals with higher service class parents and 3.2% among individuals whose parents are business owners. Likewise, individuals with low-skilled parents are less likely to expect wealth transfers and are less likely to receive large transfers. Receiving transfers, both gifts or inheritances, substantially increases the hazard of transitioning to homeownership. The effect is most pronounced in the year of the transfer and then levels off quickly. Moreover, individuals who expect to receive transfers in the future have a higher likelihood of transitioning to homeownership, even if the transfer has not taken place yet. Transfers and expected transfers together account for up to 49% of differences by parental SES in the transition to homeownership. This highlights the need for policies that address the perpetuation of wealth inequalities and facilitate equitable access to homeownership among individuals from diverse socio-economic backgrounds.
Link to study: The Keys to the House – How Wealth Transfers Stratify Homeownership Opportunities
In-person room: MSH 1st floor LISER seminar room
Please join us on Webex meetings by following the link below
Meeting link: https://unilu.webex.com/unilu/j.php?MTID=m1a547689872df12938163e634e2d166d
(Please copy and paste this web address in a web browser if this link is not working)
Meeting number: 2730 439 7889 Password: w3NpiprhX47