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Housing Expenditure and Income Inequality

Dustmann, C; Fitzenberger, B; Zimmermann, M; (2021) Housing Expenditure and Income Inequality. The Economic Journal 10.1093/ej/ueab097. (In press). Green open access

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Abstract

The trend of rising income inequality in Germany since the mid-1990s is strongly amplified when considering income after housing expenditure. The income share of housing expenditure rose disproportionally for the bottom income quintile and fell for the top quintile. Factors contributing to these trends include declining relative costs of homeownership versus renting, changes in household structure, declining real incomes for low-income households, and residential mobility towards larger cities. Younger cohorts spend more on housing and save less than older cohorts did at the same age, which will affect future wealth accumulation, particularly at the bottom of the income distribution.

Type: Article
Title: Housing Expenditure and Income Inequality
Open access status: An open access version is available from UCL Discovery
DOI: 10.1093/ej/ueab097
Publisher version: https://doi.org/10.1093/ej/ueab097
Language: English
Additional information: © The Author(s) 2021. Published by Oxford University Press on behalf of Royal Economic Society. This is an Open Access article distributed under the terms of the Creative Commons Attribution-NonCommercial License (https://creativecommons.org/licenses/by-nc/4.0/).
Keywords: D31 - Personal Income, Wealth, and Their Distributions R21 - Housing Demand
UCL classification: UCL
UCL > Provost and Vice Provost Offices > UCL SLASH
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS
UCL > Provost and Vice Provost Offices > UCL SLASH > Faculty of S&HS > Dept of Economics
URI: https://discovery.ucl.ac.uk/id/eprint/10141769
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