This paper investigates changes between, and inequalities within, birth-cohorts in Italy, surrounding homeownership. Italy is a homeownership and familialistic society, where in recent decades an increasing ‘generational divide’ in employment prospects has opened up, as a side-effect of a partial and targeted labour market deregulation. Drawing on the interplay of macro-level constraints with micro-level factors, we discuss patterns of inequality in attaining homeownership between cohorts, arising from greater instability of employment for young adults, and within cohorts, stemming from class-based patterns of intergenerational wealth transmission. Our analytical strategy combines a sequential cohort design with two levels of analysis that simultaneously consider young people around the normative age of housing independence and wealth transmission from their families triggered by their leaving the nest. Longitudinal analyses apply random-effects probit models and linear probability distributed fixed-effects to panel data from the Bank of Italy (SHIW 1989−2016). Results show a decrease in homeownership attainment across cohorts, which can be partially ascribed to employment disadvantages faced by younger cohorts. On top of this, class-specific patterns of intergenerational transmission are in place: lower classes rely on timely housing wealth transfers, whereas upper classes are prepared to provide their children with an extended stream of financial transfers.

本文调查了意大利出生队列之间围绕房屋所有权的变化和内部的不平等。意大利是一个拥有房屋和家庭主义的社会，近几十年来，就业前景的“代沟”越来越大，这是部分和有针对性的劳动力市场放松管制的副作用。利用宏观层面约束与微观层面因素的相互作用，我们讨论了不同群体之间获得房屋所有权的不平等模式，这是由于年轻人就业的更大不稳定而引起的，以及同龄人内部由于基于阶级的代际财富传递模式而引起的. 我们的分析策略将顺序队列设计与两个层次的分析相结合，同时考虑了处于住房独立和家庭财富转移的正常年龄左右的年轻人离开巢穴触发的情况。纵向分析将随机效应概率模型和线性概率分布固定效应应用于意大利银行的面板数据 (SHIW 1989−2016)。结果显示，不同人群的房屋拥有率有所下降，这可部分归因于年轻人群面临的就业劣势。最重要的是，特定阶级的代际传递模式已经到位：下层阶级依赖及时的住房财富转移，而上层阶级准备为他们的孩子提供更多的金融转移。