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Residential independence and homeownership of Spanish young adults: What is the effect of the growing educational attainment?

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Abstract

In this paper, we study the residential independence and the housing tenure of Spanish young people over the period 1990 to 2015. Given the importance of education in the process of leaving the parental home, we analyze the residential situation of young adults according to their educational attainment. The findings show that the differences of behavior by age and by gender diminish over time. In addition, we have found that young people with non-university studies levels reduce their possibilities of access to homeownership, likely due to the economic crisis and the situation of the real estate market in recent years.

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Fig. 1

Source: Economically Active Population Survey

Fig. 2

Source: Census of Population and Housings 1991, 2001 and 2011

Fig. 3

Source: Census of Population and Housings 1991, 2001 and 2011

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Notes

  1. EPA data available in http://www.ine.es/dyngs/INEbase/es/categoria.htm?c=Estadistica_P&cid=1254735976595.

  2. Censuses data in http://www.ine.es/dyngs/INEbase/es/categoria.htm?c=Estadistica_P&cid=1254735572981.

  3. Note that this derivate need not have the same sign as the estimated coefficient (Greene 2002: 722).

  4. The statistic for Hausman test is \(H = \left( {\hat{\beta }_{r} - \hat{\beta }_{u} } \right)^{{\prime }} \left[ {\hat{V}_{r} - \hat{V}_{u} } \right]^{ - 1} \left( {\hat{\beta }_{r} - \hat{\beta }_{u} } \right)\) where \(\hat{\beta }_{u}\) is the coefficient vector estimated with the complete set of alternatives and \(\hat{\beta }_{r}\) is the coefficient vector estimated considering a restricted set of alternatives, and \(\hat{V}_{u}\) and \(\hat{V}_{r}\) are the corresponding estimated matrix of covariance. H follows a \(\chi^{2}\) distribution with freedom degrees equal to the number of restrictions.

  5. However, the disadvantage with the model is that the results based on Heckman procedure are sensitive to the choice of the variables in the selection equation (Newey 1999).

  6. For example, when there are no alternative-specific variables, the variance–covariance matrix in the ASMPR model is not identifiable, as stated in a technical note in the user’s manual of STATA about alternative-specific multinomial probit regression (asmprobit).

  7. Data available in http://www.ine.es/prodyser/micro_ebpf8191.htm.

  8. Data available in http://www.ine.es/dyngs/INEbase/es/categoria.htm?c=Estadistica_P&cid=1254735976608.

  9. Data available in http://www.fomento.gob.es/.

  10. 1990 data in http://www.ine.es/jaxi/Tabla.htm?path=/t22/e308/meto_02/pae/px/l0/&file=02007.px&=0, and 2015 data in https://www.ine.es/jaxiT3/Tabla.htm?t=4966&L=0.

  11. Hausman statistic values are available from the authors.

  12. The group of young people between 18 and 23 years of age has not been analyzed since, according to the Spanish educational system, university studies are not completed before 23 years of age.

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Correspondence to Mª Consuelo Colom Andrés.

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Appendix A: Bivariate probit model

Appendix A: Bivariate probit model

See Table 9.

Table 9 Bivariate probit model estimates

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Colom Andrés, M.C., Molés Machí, M.C. Residential independence and homeownership of Spanish young adults: What is the effect of the growing educational attainment?. J Hous and the Built Environ 36, 901–923 (2021). https://doi.org/10.1007/s10901-020-09790-0

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