Table 10
Marginal effects of the probability of owning a home, non-family individuals aged 20 to 39, by selected income quintiles
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| Bottom quintile | Middle quintile | Top quintile | ||||
|---|---|---|---|---|---|---|
| coefficient | p-value | coefficient | p-value | coefficient | p-value | |
| Model 1 | ||||||
| Year binary variables | ||||||
| 1986 | 0.021 | 0.000 | 0.030 | 0.000 | 0.031 | 0.014 |
| 1991 | 0.026 | 0.000 | 0.085 | 0.000 | 0.070 | 0.000 |
| 1996 | 0.036 | 0.000 | 0.126 | 0.000 | 0.125 | 0.000 |
| 2001 | 0.064 | 0.000 | 0.146 | 0.000 | 0.076 | 0.000 |
| 2006 | 0.107 | 0.000 | 0.242 | 0.000 | 0.225 | 0.000 |
| Model 2 | ||||||
| Year binary variables | ||||||
| 1986 | 0.004 | 0.733 | -0.089 | 0.000 | -0.131 | 0.000 |
| 1991 | -0.003 | 0.740 | -0.010 | 0.647 | -0.005 | 0.898 |
| 1996 | 0.006 | 0.541 | -0.012 | 0.634 | -0.030 | 0.482 |
| 2001 | 0.025 | 0.063 | -0.001 | 0.943 | -0.108 | 0.008 |
| 2006 | 0.104 | 0.000 | 0.119 | 0.000 | 0.003 | 0.920 |
| Market conditions | ||||||
| Relative cost (renting to owning) | 0.052 | 0.000 | 0.061 | 0.000 | -0.010 | 0.325 |
| Relative price (price to rent) | 0.0004 | 0.963 | 0.028 | 0.014 | 0.057 | 0.000 |
| Mortgage-carrying cost to income | 0.000002 | 0.239 | -0.086 | 0.002 | -0.196 | 0.000 |
| Financial conditions | ||||||
| Permanent income | -0.005 | 0.210 | -0.053 | 0.000 | -0.027 | 0.001 |
| Wealth | 0.010 | 0.061 | 0.003 | 0.816 | 0.004 | 0.701 |
| Transitory to permanent income | -0.045 | 0.001 | 0.034 | 0.003 | 0.010 | 0.442 |
| Connection to the labour market | ||||||
| Household head hours worked | 0.001 | 0.000 | 0.001 | 0.000 | 0.001 | 0.000 |
| Household head weeks worked | 0.001 | 0.000 | 0.001 | 0.000 | 0.004 | 0.000 |
| Age of the household head | ||||||
| Age of the household head | 0.021 | 0.000 | 0.071 | 0.000 | 0.068 | 0.000 |
| Age squared | -0.0002 | 0.001 | -0.001 | 0.000 | -0.001 | 0.001 |
| Immigrant status | -0.003 | 0.851 | -0.011 | 0.403 | 0.009 | 0.643 |
| Bottom quintile | Middle quintile | Top quintile | |
|---|---|---|---|
| Number of observations | 117,665 | 81,056 | 23,920 |
| Model 1 | |||
| Pseudo R-squared | 0.009 | 0.019 | 0.014 |
| Wald chi-square | 774 | 1,646 | 379 |
| Log pseudo likelihood | -247,755 | -262,194 | -87,491 |
| Model 2 | |||
| Pseudo R-squared | 0.090 | 0.085 | 0.079 |
| Wald chi-square | 5,109 | 6,662 | 3,802 |
| Log pseudo likelihood | -227,444 | -244,558 | -81,664 |
Note(s):
The market condition variables and financial condition variables (except wealth) have all been normalized by the standard deviation of the variable across the sample (except for the mortgage-carrying-cost-to-income ratio, which excludes the top and bottom 5% of households based on household income). The coefficients measure the change in the dependent variable resulting from a one-standard-deviation change in the independent variable.
Source(s):
Statistics Canada, Census of Population (1981 to 2006) and Survey of Financial Security (1999 and 2005).
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