Abstract
This paper uses the survey data of graduates from six ‘985 Project’ Universities1 in 2010, and for the first time systematically elaborates homeownership of young middle class, i.e. those born in the 1980s generation, and its influence factors. The research shows that: the overall homeownership rate of the ‘985 Project’ Universities graduates is higher than the average rate of the urban youth in China; the graduates who own a house tend to have better-off parental backgrounds and have better quality of life, which reveals social division; parents’ financial help, their marriage status and age are the most important factors influencing homeownership. The results emphasize the increasingly important social stratification function of housing. The government needs to increase the macroeconomic control on real estate and to enhance the housing welfare policies, so as to prevent further social segregation.
Highlights
This paper uses the survey data of graduates from six ‘985 Project’ Universities1 in 2010, and for the first time systematically elaborates homeownership of young middle class, i.e. those born in the 1980s generation, and its influence factors
Homeownership issue of the youth has always been the focus of the world
In China, among the young people who were born in the period from late 1970s to the 1980s, the only child takes a very large proportion
Summary
Haurin et al (1993) found that, by analyzing the data of National Longitudinal Survey of Youth in 1987, except the gender factor of single householder –which has insignificant influence–, age, ethnic group, the ratio of house price to rents, predicted wage and the percentage of government subsidy in income have significant influence on the young people, aging from 22 to 29, in owning a house. The Spanish scholar Moreno (2012) argues that young people’s homeownership is influenced by some cultural factors, including the culture of ‘homeownership’ and the culture of ‘familism’, especially in Italy, Spain and other South European countries – young people usually live with their parents until they can afford to buy a house. Of them is the only child; but in the case of parents’ buying the house for the young couple, the percentage of ownership for ‘the only child’ couple is 10% higher than the ‘not the only child’ couple (32.9% and 23.7% respectively)
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