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Home | Events | Welfare Effects of Subsidizing First-Time Homebuyers
Seminar

Welfare Effects of Subsidizing First-Time Homebuyers

  • Location
    Tinbergen Institute, room 1.01
    Amsterdam
  • Date and time

    October 23, 2025
    12:00 - 13:00

Abstract
Countries around the world subsidize first-time homebuyers. We propose a novel sufficient statistics framework with indivisible housing consumption and tenure choice to analyze both the efficiency and equity implications of such policies. Based on a recent policy change in the Netherlands, which removed transfer taxes for young homebuyers, we estimate the necessary empirical parameters in a quasi-experimental setting using administrative data. We find that subsidizing starters significantly alters home purchase patterns but does not affect the long-term homeownership rate. We find little evidence for aggregate price increases. Joint work with Jonas Wogh.