The Effect of Housing Wealth on College Choice: Evidence from the Housing Boom
AbstractWe use NLSY97 data to examine how home price variation affects the quality of postsecondary schools students attend. We find a $10,000 increase in housing wealth increases the likelihood of public flagship university enrollment relative to nonflagship enrollment by 2.0 percent and decreases the relative probability of attending a community college by 1.6 percent. These effects are driven by lower-income families, predominantly by altering student application decisions. We also find home price changes affect direct quality measures of institutions students attend. Furthermore, for lower-income students, each $10,000 increase in home prices leads to a 1.8 percent increase in the likelihood of completing college.
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Bibliographic InfoArticle provided by University of Wisconsin Press in its journal Journal of Human Resources.
Volume (Year): 48 (2013)
Issue (Month): 1 ()
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Web page: http://jhr.uwpress.org/
Other versions of this item:
- Michael F. Lovenheim & C. Lockwood Reynolds, 2012. "The Effect of Housing Wealth on College Choice: Evidence from the Housing Boom," NBER Working Papers 18075, National Bureau of Economic Research, Inc.
- I21 - Health, Education, and Welfare - - Education - - - Analysis of Education
- I23 - Health, Education, and Welfare - - Education - - - Higher Education and Research Institutions
- J24 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Human Capital; Skills; Occupational Choice; Labor Productivity
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Production Analysis, and Firm Location - - - Housing Supply and Markets
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- Bridget Terry Long, 2013. "The Financial Crisis and College Enrollment: How Have Students and Their Families Responded?," NBER Chapters, in: How the Financial Crisis and Great Recession Affected Higher Education National Bureau of Economic Research, Inc.
- Meta Brown & Sarah Stein & Basit Zafar, 2013. "The impact of housing markets on consumer debt: credit report evidence from 1999 to 2012," Staff Reports 617, Federal Reserve Bank of New York.
- Teng Sun, Stephen & Yannelis, Constantine, 2013. "Credit Constraints and Demand for Higher Education: Evidence from Financial Deregulation," MPRA Paper 48726, University Library of Munich, Germany.
- Daniel Cooper & María José Luengo-Prado, 2011. "House price growth when kids are teenagers: a path to higher intergenerational achievement?," Working Papers 11-6, Federal Reserve Bank of Boston.
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