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Characteristics of First-time Homeownership Behavior and Individual Attributes? Effect of Young Adults: a Longitudinal Study Based on Survival Analysis

Yuan Zhang, Yongxiang Wu

Abstract



The characteristics of potential first-time housing consumer?s behavior and influencing factors, under the market-oriented background of housing policy, are studied longitudinally using Survival Analysis method. The results show that, the respondents need 5.93 years averagely to get the first homeownership from entering to the labor market formally, and about 49% of them could buy their first house after 5 years. Male, elder, higher education, married ones are more likely to purchase house at each point, as well as the ones whose parents with higher education level. The stage of life cycle is more backward, the probability of becoming a home owner is relatively higher. The life course events of marriage and graduate have significant positive influence on one?s first time homeownership, and the probability of respondents? first time house buying who are born in the 1980s is significantly higher than the ones born in the 1970s.

Keywords


Survival Analysis, Life Tables, Cox Hazard Proportion model, first-time homeownership, individual attributes.

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