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Homeownership & Household Formation ON THE RISE in Australia but delayed for sociodemographic reason; Household formation delayed until later in life because MARRIAGE is the key determinant
Topic Started: 23 Aug 2013, 10:58 AM (6,510 Views)
BullHawk
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I am the BullHawk
Australian and international studies identify FORMAL MARRIAGE as the primary driver of home ownership and household formation. Figures indicate home ownership and household formation not in decline but ON THE RISE at the macro level in Australia, yet deferred until later in life for sociodemographic reasons. That aligns with the studies.
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Home ownership among young people in Australia: in decline or just delayed?

Based on census data, a fall in rates of home ownership has been observed among Australians aged less than 35 years. There is debate as to whether this fall is due to changing affordability (Yates 1999, 2002) or to delays in family formation among young Australians (Mudd et al. 2001).

We find that once other characteristics are controlled, there is no indication of falls in home ownership across birth cohorts. If anything, more recent birth cohorts are more likely to be homeowners than earlier cohorts.

Formal marriage is the key variable associated with entry to home ownership.
Our young countrymen defer the formation of households until they marry later in life, but when they're ready to form those households, they're forming them faster than ever.

MARRIAGE IS THE KEY DETERMINANT OF HOUSEHOLD FORMATION

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Edited by BullHawk, 23 Aug 2013, 11:00 AM.
They are the eggmen. I am the BullHawk. Goo goo g'joob.
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Catweasel
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Catweasel say....

.....amazing.

How about a divorce the rate? It a suspect it a high among a Anglo-Saxon the liberal democracies.

It not seem to impact mouse price,

even though master decree mouse to split a assets.

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peter fraser
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BullHawk
23 Aug 2013, 10:58 AM
Australian and international studies identify FORMAL MARRIAGE as the primary driver of home ownership and household formation. Figures indicate home ownership and household formation not in decline but ON THE RISE at the macro level in Australia, yet deferred until later in life for sociodemographic reasons. That aligns with the studies.

Our young countrymen defer the formation of households until they marry later in life, but when they're ready to form those households, they're forming them faster than ever.

MARRIAGE IS THE KEY DETERMINANT OF HOUSEHOLD FORMATION
I see a lot of defacto and pre-marital couples buying homes, so from my perspective I include them in as formal marriages.

What is the official definition, and is this accelerated rate of household formation simply "catch up" for a generation who postponed almost everything.

Any expressed market opinion is my own and is not to be taken as financial advice
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willy_nilly
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Catweasel
23 Aug 2013, 11:13 AM
How about a divorce the rate? It a suspect it a high among a Anglo-Saxon the liberal democracies.

It not seem to impact mouse price,

even though master decree mouse to split a assets.
+1
http://www.aifs.gov.au/institute/pubs/diversity/15divorce.pdf
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BullHawk
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Catweasel
23 Aug 2013, 11:13 AM
How about a divorce the rate?
Divorce necessitates the creation of two households in place of one.
Edited by BullHawk, 23 Aug 2013, 11:27 AM.
They are the eggmen. I am the BullHawk. Goo goo g'joob.
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willy_nilly
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BullHawk
23 Aug 2013, 11:26 AM
Divorce necessitates the creation of two households in place of one.
Well we certainly know the bears are pushing the bulls buttons when we see the Hawk arrive....lol

The main factor in demand, is demographics, how many people at a particular age and well, we do not have a population pyramid at all, we have a vase shape, so all good for the bears...
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Shadow
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Evil Mouzealot Specufestor

BullHawk
23 Aug 2013, 10:58 AM
Figures indicate home ownership and household formation not in decline but ON THE RISE at the macro level in Australia, yet deferred until later in life for sociodemographic reasons.
Nice work Chris... veritas won't be happy, he'll probably claim you're obfuscating and ask you what adult children are counted as in the home ownership rate.

People are doing lots of things later in life... leaving education, getting married, having kids, buying a home, and finally, dying.
1. Epic Fail! Steve Keen's Bad Calls and Predictions.
2. Residential property loans regulated by NCCP Act. Banks can't margin call unless borrower defaults.
3. Housing is second highest taxed sector of Australian Economy. Renters subsidised by highly taxed homeowners.
4. Ongoing improvement in housing affordability. Australian household formation faster than population growth since 1960s.
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peter fraser
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This is off topic, but how strong is the house sales surge from your perspective.

It looks stronger than I expected. It has picked up over the last 3 or 4 weeks.

Edited by peter fraser, 23 Aug 2013, 12:21 PM.
Any expressed market opinion is my own and is not to be taken as financial advice
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willy_nilly
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Shadow
23 Aug 2013, 11:48 AM
Nice work Chris... veritas won't be happy, he'll probably claim you're obfuscating and ask you what adult children are counted as in the home ownership rate.

People are doing lots of things later in life... leaving education, getting married, having kids, buying a home, and finally, dying.
The only thing your chart shows is the growth in lone occupants, now 23% and projected to rise to 32%
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BullHawk
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peter fraser
23 Aug 2013, 12:20 PM
This is off topic, but how strong is the house sales surge from your perspective.

It looks stronger than I expected. It has picked up over the last 3 or 4 weeks.

Peter, we're seeing what can be described as a groundswell in housing sales across capital cities, dwelling transactions are 18% higher than year ago.
They are the eggmen. I am the BullHawk. Goo goo g'joob.
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