“The White Picket Fence Dream”: Effects of Assets on the Choice of Family Union

Arif Mamun, University of Washington

Marriage is perceived as a family status to be chosen after certain economic and relational preconditions are fulfilled – after the couple have achieved the so-called “white picket fence dream”. In this paper, using data from the National Longitudinal Survey of Youth 1979, we examine whether there is any direct relationship between the individual’s financial and housing assets and his/her transition into cohabitation or marriage. Preliminary results indicate that both for men and women, home ownership and access to liquid financial assets increases the probability of marriage. Transition into cohabitation, however, is not significantly influenced by asset ownership.