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Home Improvement Lending in the Third Federal Reserve District: Patterns by Income, Race, and Gender

Author

Listed:
  • Alex Carlin

Abstract

Historically, local, state, and federal policies in the U.S. have encouraged households of all backgrounds to pursue homeownership because of the various benefits of owning a home, such as wealth building, protection against housing cost inflation, and psychological well-being, among others.1 Research has demonstrated that the financial, physical, and psychological benefits associated with owning a home have accrued to homeowners of all stripes. However, LMI, minority, and elderly households often face financial barriers to sustaining homeownership over the long run.

Suggested Citation

  • Alex Carlin, 2018. "Home Improvement Lending in the Third Federal Reserve District: Patterns by Income, Race, and Gender," Cascade Focus, Federal Reserve Bank of Philadelphia, December.
    • Handle: RePEc:fip:fedpcf:0007
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    File URL: https://www.philadelphiafed.org/-/media/frbp/assets/community-development/reports/1218-cascade-focus-home-improvement-lending.pdf
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    Cited by:

    1. James Conklin & Kristopher Gerardi & Lauren Lambie-Hanson, 2022. "Can Everyone Tap Into the Housing Piggy Bank? Racial Disparities in Access to Home Equity," FRB Atlanta Working Paper 2022-17, Federal Reserve Bank of Atlanta.

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