This paper studies the housing careers of renters and homeowners before, during and after the Great Recession by using the concept of the housing ladder. Based on Dutch administrative data, we find that renters and homeowners were less likely to climb the housing ladder during the Great Recession than before and that these upward movement rates recovered to pre-recession levels afterwards. The negative recession effect was driven by a decreased probability of moving to privately owned housing. The decrease in the probability of house buying may be explained by low consumer confidence, housing price uncertainty and a limited supply of housing due to loss aversion.

中文翻译：

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住房事业与大萧条

本文利用住房阶梯的概念研究了大萧条之前，之中和之后的租房者和房主的住房职业。根据荷兰的行政数据，我们发现，在大萧条时期，租房者和房主攀登住房阶梯的可能性比以前小，而且这些上升速度随后又恢复到了衰退前的水平。经济衰退的负面影响是由于转用私人住房的可能性降低。购房概率下降的原因可能是消费者的信心低下，房价不确定性以及由于厌恶损失导致住房供应有限。