美联储：部分住房所有权：定量分析（英文版）

A convex combination of renting and traditional homeownership—Partial Ownership (PO)—is increasingly popular in many countries. We incorporate an existing for-profit PO contract into a life-cycle model to quantify its impact on investment in housing, households’ welfare, and financial stability. We have the following results: 1) PO makes more households invest in (some) housing. 2) Willingness to pay for PO increases with housing unaffordability and is highest among low-income and renting hou