Whether we own a house depends on our parents
The proportion of homeowners in Germany is very low compared to other OECD countries. One thing is certain: people whose parents belong to a higher social class are more likely to become homeowners than those whose parents are from a lower social class. This favors further inequalities, especially in the development of wealth.
Based on data from “Living in Germany,” researchers investigated the role played by the transfer of wealth to the younger generation; for example, in the form of inheritances and gifts. The result: these transfers promote home ownership to a high degree, often within just one year. Even if it is only expected that a transfer of parental wealth is imminent in the future, home ownership becomes significantly more likely.