{"id":111688,"date":"2019-10-18T11:05:04","date_gmt":"2019-10-18T04:05:04","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/childrens-future-economic-status-influenced-by-type-of-housing-parents-own\/"},"modified":"2019-10-18T12:02:48","modified_gmt":"2019-10-18T05:02:48","slug":"childrens-future-economic-status-influenced-by-type-of-housing-parents-own","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/childrens-future-economic-status-influenced-by-type-of-housing-parents-own\/","title":{"rendered":"Children\u2019s future economic status influenced by type of housing parents own"},"content":{"rendered":"


\nFindings from the research showed that children from lower-income families enjoy greater mobility in housing wealth, while children from middle-income families tend to face downward mobility in housing wealth.\u00a0
\nA recent research by the National University of Singapore (NUS) revealed that the type of housing owned by Singaporean parents, coupled with the country\u2019s housing policies, can heavily influence the next generation\u2019s economic status, reported The Business Times.
\nThe research combined data gathered from housing transaction and administration records from 1995 to 2018, and focused on children born from 1965 to 1984.
\nThe data was then mapped against large-scale programmes related to public housing, such as the Married Child Priority Schemes (MCPS) and Build-to-Order (BTO), to examine the effect of public policy on inter-generational wealth mobility.
\nThe research indicates children belonging to low-income families, defined as those whose parents belong to the bottom 60th percentile nationally, show upward mobility in housing wealth, mostly because most schools are located near HDB towns.
\nOn the other hand, children belonging to middle-income families whose parents are in the 60th to 80th percentile ranks, fare worse than their parents in housing type, due to government subsidies motivating them to buy into less expensive public housing.
\nMeanwhile, children belonging to high-income families, or the richest top 20th percentile of families, keep closest to their parents\u2019 levels of wealth, but are still worse off in absolute rank, partly because there is less room for them to get ahead of their parents.
\nThe research also revealed that inter-generational housing wealth mobility varies across Singapore\u2019s regions, due to neighbourhood characteristics and local policies.
\nAs an example, upward movements are concentrated in newer towns such as Jurong West, Pasir Ris and Punggol, where quality public housing with subsidies have been promoted by government policies.
\nHigher mobility is also apparent for children growing up in public housing and when there are fewer restrictions for the BTO scheme.
\nThe reason for this is public housing is heavily subsidised by the government, and gives a head start for new homeowners.
\nThe researchers also believe that the high quality of Singapore\u2019s public schools is a big reason why the country possesses one of the highest mobility levels among lower-ranked households, as compared to other countries.
\n\u201cTherefore, Singaporean children from low-income families benefit as long as there are public schools in their neighbourhood, whilst children from middle-income families living in new towns may not be able to find a place in high-quality public education institutions, preventing them from keeping pace with their parents\u2019 wealth,\u201d the research noted.
\nChildren belonging to the upper-income families mostly remain in the same core central areas as their parents, and therefore their mobility is mostly flat.
\nHome buyers looking for\u00a0Singapore Properties\u00a0may like to visit our\u00a0Listings,\u00a0Project Reviews\u00a0and\u00a0Guides.\u00a0 Also\u00a0read more about\u00a0the hottest areas to live in with PropertyGuru\u2019s AreaInsider
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\nVictor Kang, Digital Content Specialist at PropertyGuru, edited this story. To contact him about this or other stories, email\u00a0victorkang@propertyguru.com.sg
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\nSource : proppertyguru.com.sg\/Property Market
\nRead more…Children\u2019s future economic status influenced by type of housing parents own<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Findings from the research showed that children from lower-income families enjoy greater mobility in housing...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-111688","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-t3q","jetpack-related-posts":[{"id":111778,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/remove-income-ceiling-for-first-time-hdb-buyers-ho-ching\/","url_meta":{"origin":111688,"position":0},"title":"Remove income ceiling for first-time HDB buyers, Ho Ching","date":"October 22, 2019","format":false,"excerpt":"\r In vouching for public housing, Mdm Ho said people should make a smarter wealth choice by opting to live in HDB housing. 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