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This paper aims to examine the relationship between student loan debt and first-time home buying among college graduates aged 23 to 40 years old in the USA.

The authors use the Federal Reserve’s 2019 Survey of Consumer Finances data on American households to present descriptive statistics and run logistic regressions that measure the effects of student loan debt on first-time home buying. The authors also present original survey data of mortgage lenders that provides an industry-level perspective.

The authors find that having student loan debt does not by itself prohibit first-time home buyers. On the contrary, having student loan debt increases the likelihood of homeownership by 15.1%. People with student loan debt, however, buy homes that are 39.2% less expensive and have 58% less home equity compared to first-time home buyers without student loans. In addition, it is found that the amount of student loan debt is important. People with student loan debt above the median amount among people with student loan debt ($35,000) are 27% less likely to be first-time home buyers.

This paper provides public policy analysts and other researchers a different perspective on the correlation between student loan debt and home buying. This study focuses narrowly on first-time home buyers who are college graduates between 23 and 40 years. Thus, capturing the youngest cohort of first-time home buyers and examine the primary factors that influence their home buying decisions.

First-time homebuyers are historically the largest segment of home buyers making them an important subcategory to study. The rise in student loan debt is posited to explain declining homeownership among younger people. The current literature on student loan debt and home buying often studies samples that are too heterogeneous resulting in mixed findings. This paper adds to the existing literature by filtering the sample to study the effects of student loan debt and first-time home buying among people with at least a college degree who are between 23 and 40 years.

Discusses new products introduced in the marketplace as being repurchasable and concerns itself with an estimate of the ratio of first‐time buyers to repeat buyers, relating this to the product expansion rate and time between first‐time and repeat buying. Gives fundamental hypotheses and defines the problems involved using tables and mathematical equations for emphasis giving examples of applications. Concludes that the model here may be usefully employed to obtain indications of the market wherever the sale of a product is expanding rapidly – but the turnover is also large.

The purpose of this paper is to provide a rare insight into the motivation behind first‐time buyers when looking to purchase their first home. The factors driving demand preferences for detached housing are constantly changing and difficult to measure, and often deemed to be a complex bundle of attributes.

The research in this paper is based on interviews with purchasers at a series of locations across Melbourne, Australia, who were actively seeking to purchase a home for the first time. The data were analysed using factor analysis to identify the core decision criteria in a new house that were most sought after.

The findings in this paper confirmed that “financial” issues accounted for approximately 30 percent of the actual decision by first‐time buyers to purchase housing, where decisions relating to the timing and choice of housing are dependent on “site‐specific” factors.

The research in this paper is aimed specifically at first time buyers only and the influencing factors behind their purchasing decisions.

The paper shows that, if consideration is given to the characteristics that first‐time owners are looking for, providers of new housing would be better equipped to meet this demand and maximise construction efficiency.

In the paper the emphasis was placed on identifying and analysing the decision criteria behind first‐time buyers, which provided an invaluable insight into their concept of a suitable residence. Rather than analysing sales transactions after they have been completed, this research considers aspects of new houses that first‐time owners are actively searching for, prior to making their purchase.

This study aims to investigate the determinants of homeowners’ planned holding periods. Real estate market is known for displaying buying and selling behavior that does not conform to traditional economic theories such as rational expectation or expected utility. Mounting evidence of anomalous observations appear to be supported by other theories, such as prospect theory, which in particular helps explain the disposition effect – sellers are too quick to sell when prices are climbing and hold on to properties longer when prices are plummeting. While this evidence is widely documented in housing studies based on data on realized holding periods (i.e. ex post), this study explores factors that may motivate homeowners to alter their expected holding horizons (i.e. ex ante) to form new preferred holding periods that may be shorter or longer than those planned during house search.

The empirical study uses data collected from two cross-section surveys of recent homebuyers in rising and declining housing markets in Southern California in 2004-2005 and 2007-2008, respectively.

The empirical results demonstrate that in addition to the financial characteristics of the recent homebuyer, the characteristics of the buying experience – non-monetary, such as the realized search duration, and monetary, such as perception of negative or positive premium paid for the house relative to its market value – have a statistically significant effect on the holding horizon revision. The data strongly indicate that the perception of having overpaid increases the likelihood of upward revision of the original holding horizon. This effect is stronger in the declining than in the rising market – a crucial finding that mirrors the disposition effect.

This study sheds new light on what may contribute to the disposition effect in housing markets that has not yet been investigated in past literature. The novel approach here is to look at how different house price environments may affect homeowners’ holding periods ex ante when they begin, rather than ex post when already realized.

While the customer satisfaction/dissatisfaction literature is extensive and continually expanding, there has been little focus on pre‐purchase satisfaction of first‐time buyers and its likely impact on buying behaviour. Applies a field‐based approach to examine and assess the nature of pre‐purchase satisfaction and investigate its impact on first‐time buyer behaviour. Indicates that pre‐purchase satisfaction can be distinguished from anticipated satisfaction and that it helps to predict first‐time purchases. Discusses the implications of the findings and provides directions for further research.

This study aims to determine the causality of herding which was traced down to social and normative influences from first-home buyers represented by undergraduate students.

The Perception Alignment Hypothesis was used in this experimental research, and was conducted on a sample of 125 undergraduates studying finance representing first-home buyers. The experiment provides the subjects property brochures in Surabaya to appraise a value that they see fit for purchase. The subjects were given both social- and normative-induced treatments separately using information cascade, and their valuation shifts were recorded. Their valuations were then divided into three sections under the treatment groups, consisting of initial, “social’ and “normative’ valuations.

In contrast to previous findings, the results showed that first-home buyers succumbed to both social and normative influences, causing them to herd. Further analysis of the credibility of information was conducted and it showed that the undergraduates were only prone to social influence, whereas other aspects regarding normative influences must be further researched.

The decline of homeownership on a global scale is concerning, especially when 60% of the market represents young adults under the age of 35. This implies that both the government and property developers may need to enact strict measures to regulate property purchases.

This is the first experimental study on herding of Surabaya, Indonesia, mainly focusing on human behavior and information cascade. Thus, this study could be a viable reflection to future policies in Indonesia being made to answer actual demands in the residential market.

A large portion of first-time homebuyers lack adequate means to meet their needs of housing owing to home price inflation in Malaysian cities. One way to address the housing needs of urban household is to provide affordable quality homes. Drawing upon a case study of Greater Kuala Lumpur, Malaysia, this study attempts to discuss the cloud of issues related to different homeownership schemes available for first-time homebuyers. Results suggest that affordable housing should be made available at the price and locations that can be accepted by first-time homeowners. In line with the principle of sustainability, homeownership schemes for first-time homebuyers should be economically viable, socially acceptable and technically feasible.

Researchers have previously examined, with mixed results, whether experience in the single-family house market enhances a buyer's bargaining power by comparing prices paid by relatively young first-time buyers and experienced buyers. The present study aims to extend this basic line of inquiry, but the focus here is on both buyers and sellers at the other end of the age spectrum as the authors investigate the bargaining power of senior citizens (age 65 or older) in the single-family house market.

Hedonic regression is used to analyze approximately 6,200 transactions that occurred in Montgomery County, Ohio during the years 2007 through 2009.

No difference is discovered between prices paid for a single-family house by senior citizens and other buyers in the sample. However, senior citizens in this study sold property for 5.9 percent less than other sellers, ceteris paribus, suggesting that when they sold their homes, other factors put seniors at a bargaining power disadvantage.

Data limitations prevent the authors from specifying the precise reasons underlying the results concerning senior house sellers, but numerous possibilities are presented. Testing whether the results apply in other local housing markets would be a valuable extension of this research, as would identification of the factors associate with any bargaining power imbalance.

The economic principle of substitution suggests that assets that provide identical utility should command identical prices, but for heterogeneous goods the relative bargaining power of the principals may be important in the price formation process. The present study offers interesting results that in the case of senior buyers support the law of one price, but in the case of senior sellers, bargaining power differences dominate.

This is the first study to investigate bargaining power in residential real estate markets by comparing transaction prices involving senior citizens and other buyers and sellers.

This study seeks to develop the concept of technological embeddedness by extending the social embeddedness theory of economic actions to household computer adoption. It also aims to propose a research framework in which technological embeddedness is a key factor that influences household computer adoption.

The US 1989‐2003 Computer and Internet Use Supplements to the Current Population Surveys are used to validate the proposed research framework.

The results show that technological embeddedness positively affects household computer adoption. In addition, the impact of technological embeddedness is positively moderated by household income, and this impact is particularly stronger on first‐time buyers than on repeat buyers.

The results provide important policy and managerial implications for encouraging household computer adoption and bridging the digital divide.

The paper proposes a new concept and develops a research framework for analyzing household computer adoption and technology adoption in general.

The dual process of thinking between conscious processes and unconscious processes generate a different decision. Thinking consciously produces rational decisions. However, a person’s cognitive limitation makes him or her simplify complex scenarios and think implicitly result in making decision in heuristics or rules of thumbs. This paper aims to evaluate patterns of decision-making relationships and dual motives for home purchasing by first home buyers and family life cycle in Indonesia.

Collecting data was done by distributing questionnaires to home buyers within three years (2013-2016). Further data were processed using ANOVA based on group of dual motives, time for buyer and family life cycle.

The results show that buyers have consumption motives in buying a residence and they behave rational, while investors prefer to buy an apartment and tend to behave heuristics. Dual motives of time for buyers are not significant to decision model. Family life cycle is significant to decision model based on dual motives.

This is an unpublished dissertation study to qualify for graduation.