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Homeownership among younger households has been decreasing in several major advanced economies. This column shows that increases in labour income inequality and uncertainty are key drivers of this trend. Confronted with high house prices and low, risky incomes, many young households cannot or do not want to risk making such a big, illiquid investment. As a result, they ....

United States , Australian Capital Territory , Antilia Virginie , Alexander Popov , S Van Zandt , S Van Nieuwerburgh , Maarten Dossche , Michael Ehrmann , European Central Bank , Consumption Survey , Harvard University , Harvard University Press , International Economic , Research Bulletin Of The European Central Bank , Canberra Group , Panel Study Of Income Dynamics , Panel Study , Income Dynamics , Household Finance , Southern Europe , Consumer Finances , Research Bulletin , European Central , Labor Economics , Population Economics , American Economic Review ,