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Alternative Measures of Homeownership Gaps Across Segregated Neighboorhoods

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  • Paul Carrillo

    ()
    (Department of Economics/Institute for International Economic Policy, George Washington University)

  • Anthony Yezer

    ()
    (Department of Economics, George Washington University)

Abstract

The dramatic rise in the U.S. homeownership rate from 64% in 1996 to almost 70% in 2005 has prompted increased attention to the relation between homeownership and demographic characteristics of households. The recent rise and sharp decline of subprime lending will likely spur interest in the relation between credit conditions and homeownership gaps. Statistical analysis of these differences or “gaps” in homeownership between white and minority households follows what has become a highly stylized pattern. Essentially differences in homeownership at the mean or the conditional mean between groups are compared. This study implements a new decomposition technique that identifies the unexplained portion of the gap not only at the mean, but at every percentile of the distribution of the dependent variable. This method was first proposed by Machado and Mata (2005), extended by Albrecht et al. (2006), and has been used in several applications in labor economics. Similar to the labor market application, differences in homeownership gaps at the mean reflect a combination of non- significant differences at the upper end and much larger gaps at the lowest end of the distribution of homeowners.

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Bibliographic Info

Paper provided by The George Washington University, Institute for International Economic Policy in its series Working Papers with number 2008-07.

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Length: 31 pages
Date of creation: Feb 2008
Date of revision:
Publication status: Published in Regional Science and Urban Economics, 39(5), 542-552
Handle: RePEc:gwi:wpaper:2008-07

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Web page: http://www.gwu.edu/~iiep/
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Keywords: Homeownership; Race; Quantile regression decomposition;

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  10. Gabriel, Stuart A. & Rosenthal, Stuart S., 2005. "Homeownership in the 1980s and 1990s: aggregate trends and racial gaps," Journal of Urban Economics, Elsevier, vol. 57(1), pages 101-127, January.
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Cited by:
  1. Deborah A. Cobb-Clark & Mathias G. Sinning, 2009. "Neighborhood Diversity and the Appreciation of Native- and Immigrant-Owned Homes," CEPR Discussion Papers 624, 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. Paul E. Carrillo & Jonathan Rothbaum, 2014. "Counterfactual Spatial Distributions," Working Papers 2014-05, The George Washington University, Institute for International Economic Policy.
  4. Paul E. Carrillo & M. Shahe Emran & Gabriela Aparicio, 2011. "Taxes, Prisons, and CFOs: The Effects of Increased Punishment on Corporate Tax Compliance in Ecuador," Working Papers 2011-02, The George Washington University, Institute for International Economic Policy.
  5. 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.
  6. Carrillo, Paul E. & Pope, Jaren C., 2012. "Are homes hot or cold potatoes? The distribution of marketing time in the housing market," Regional Science and Urban Economics, Elsevier, vol. 42(1-2), pages 189-197.

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