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Racial Differences in Homeownership and Housing Wealth, 1970-1986

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Author Info

  • Long, James E
  • Caudill, Steven B

Abstract

Black couples are found to own a disproportionately low share of aggregate housing wealth in the United States because they are less likely than whites to be homeowners and because black-owned houses have lower market values than white-owned houses. Probability of ownership and house value equations (corrected for selectivity bias) are estimated with national data for 1970, 1980, and 1986. Trends in racial differences in homeownership and house value are identified and reasons for their existence are investigated. Copyright 1992 by Oxford University Press.

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Bibliographic Info

Article provided by Western Economic Association International in its journal Economic Inquiry.

Volume (Year): 30 (1992)
Issue (Month): 1 (January)
Pages: 83-100

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Handle: RePEc:oup:ecinqu:v:30:y:1992:i:1:p:83-100

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Cited by:
  1. Deborah Cobb-Clark & Vincent A. Hildebrand, 2006. "The Wealth of Mexican Americans," CEPR Discussion Papers 519, Centre for Economic Policy Research, Research School of Economics, Australian National University.
  2. Fesselmeyer, Eric & Le, Kien T. & Seah, Kiat Ying, 2013. "Changes in the white–black house value distribution gap from 1997 to 2005," Regional Science and Urban Economics, Elsevier, vol. 43(1), pages 132-141.
  3. Collins, William J. & Margo, Robert A., 2003. "Race and the value of owner-occupied housing, 1940-1990," Regional Science and Urban Economics, Elsevier, vol. 33(3), pages 255-286, May.
  4. Fesselmeyer, Eric & Le, Kien T. & Seah, Kiat Ying, 2012. "A household-level decomposition of the white–black homeownership gap," Regional Science and Urban Economics, Elsevier, vol. 42(1-2), pages 52-62.
  5. Lisa A. Keister, 2000. "Family Structure, Race, and Wealth Ownership: A Longitudinal Exploration of Wealth Accumulation Processes," Economics Working Paper Archive wp_304, Levy Economics Institute, The.
  6. Edward N. Wolff, . "Racial Wealth Disparities Is the Gap Closing?," Economics Public Policy Brief Archive ppb_66, Levy Economics Institute, The.
  7. William J. Collins & Robert A. Margo, 2001. "Race and Home Ownership in Twentieth Century America: The Role of Sample Composition," Vanderbilt University Department of Economics Working Papers 0110, Vanderbilt University Department of Economics.
  8. Raphael Bostic & Brian J. Surette, 2000. "Have the doors opened wider? trends in homeownership rates by race and income," Finance and Economics Discussion Series 2000-31, Board of Governors of the Federal Reserve System (U.S.).

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