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Race and the Value of Owner-Occupied Housing, 1940-1990

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Author Info
William J. Collins () (Department of Economics, Vanderbilt University)
Robert A. Margo () (Department of Economics, Vanderbilt University)

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Abstract

This paper begins by documenting racial convergence in the value of owner-occupied housing from 1940 to 1990. Most of this convergence occurred before 1970, as black and white home owners became more similar in terms of household and housing characteristics that were positively correlated with housing values. The post-1970 story is rather less encouraging. During the 1970s, convergence in housing values stalled, and in fact, the "unexplained" portion of the value gap increased. We explore the post-1970 experience from a variety of perspectives. We examine the changing connection between residential segregation and the racial value gap; we document trends in the correlation between income and central-city residence; and we explore the correlation between riots in the 1960s and the racial gap in housing values thereafter.

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File URL: http://www.vanderbilt.edu/Econ/wparchive/workpaper/vu00-w25R.pdf
File Format: application/pdf
File Function: Revised version, 2001
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Publisher Info
Paper provided by Department of Economics, Vanderbilt University in its series Working Papers with number 0025.

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Date of creation: Jul 2000
Date of revision: Feb 2001
Handle: RePEc:van:wpaper:0025

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Find related papers by JEL classification:
R20 - Urban, Rural, and Regional Economics - - Household Analysis - - - General
J15 - Labor and Demographic Economics - - Demographic Economics - - - Economics of Minorities and Races; Non-labor Discrimination
N30 - Economic History - - Labor and Consumers, Demography, Education, Income, and Wealth - - - General, International, or Comparative

References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

  1. Wolff, Edward N, 1998. "Recent Trends in the Size Distribution of Household Wealth," Journal of Economic Perspectives, American Economic Association, vol. 12(3), pages 131-50, Summer. [Downloadable!] (restricted)
  2. Heckman, James J, 1979. "Sample Selection Bias as a Specification Error," Econometrica, Econometric Society, vol. 47(1), pages 153-61, January. [Downloadable!] (restricted)
  3. Collins, William J. & Margo, Robert A., 2001. "Race and Home Ownership: A Century-Long View," Explorations in Economic History, Elsevier, vol. 38(1), pages 68-92, January. [Downloadable!] (restricted)
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  4. Jacob L. Vigdor, 2002. "Locations, Outcomes, and Selective Migration," The Review of Economics and Statistics, MIT Press, vol. 84(4), pages 751-755, 08. [Downloadable!] (restricted)
  5. Collins, William J. & Margo, Robert A., 2000. "Residential segregation and socioeconomic outcomes: When did ghettos go bad?," Economics Letters, Elsevier, vol. 69(2), pages 239-243, November. [Downloadable!] (restricted)
  6. Rosen, Sherwin, 1974. "Hedonic Prices and Implicit Markets: Product Differentiation in Pure Competition," Journal of Political Economy, University of Chicago Press, vol. 82(1), pages 34-55, Jan.-Feb.. [Downloadable!] (restricted)
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  8. William J. Collins, 2001. "Race, Roosevelt, and Wartime Production: Fair Employment in World War II Labor Markets," American Economic Review, American Economic Association, vol. 91(1), pages 272-286, March. [Downloadable!] (restricted)
  9. John J. Donohue III & James Heckman, 1991. "Continuous Versus Episodic Change: The Impact of Civil Rights Policy on the Economic Status of Blacks," NBER Working Papers 3894, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
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  10. David M. Cutler & Edward L. Glaeser & Jacob L. Vigdor, 1999. "The Rise and Decline of the American Ghetto," Journal of Political Economy, University of Chicago Press, vol. 107(3), pages 455-506, June. [Downloadable!] (restricted)
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  11. Green, Richard K. & White, Michelle J., 1997. "Measuring the Benefits of Homeowning: Effects on Children," Journal of Urban Economics, Elsevier, vol. 41(3), pages 441-461, May. [Downloadable!] (restricted)
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  12. DiPasquale, Denise & Glaeser, Edward L., 1999. "Incentives and Social Capital: Are Homeowners Better Citizens?," Journal of Urban Economics, Elsevier, vol. 45(2), pages 354-384, March. [Downloadable!] (restricted)
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  13. Cutler, David M & Glaeser, Edward L, 1997. "Are Ghettos Good or Bad?," The Quarterly Journal of Economics, MIT Press, vol. 112(3), pages 827-72, August.
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  14. Smith, James P & Welch, Finis R, 1989. "Black Economic Progress after Myrdal," Journal of Economic Literature, American Economic Association, vol. 27(2), pages 519-64, June. [Downloadable!] (restricted)
  15. Margo, Robert A., 1992. "Explaining the postwar suburbanization of population in the United States: The role of income," Journal of Urban Economics, Elsevier, vol. 31(3), pages 301-310, May. [Downloadable!] (restricted)
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  17. Higgs, Robert, 1982. "Accumulation of Property by Southern Blacks before World War I," American Economic Review, American Economic Association, vol. 72(4), pages 725-37, September. [Downloadable!] (restricted)
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  19. Kain, John F & Quigley, John Michael, 1972. "Housing Market Discrimination, Homeownership, and Savings Behavior," American Economic Review, American Economic Association, vol. 62(3), pages 263-77, June. [Downloadable!] (restricted)
  20. Grossman, Herschel I, 1991. "A General Equilibrium Model of Insurrections," American Economic Review, American Economic Association, vol. 81(4), pages 912-21, September. [Downloadable!] (restricted)
  21. Margo, Robert A, 1984. "Accumulation of Property by Southern Blacks before World War I: Comment and Further Evidence," American Economic Review, American Economic Association, vol. 74(4), pages 768-76, September. [Downloadable!] (restricted)
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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

  1. William J. Collins & Robert A. Margo, 2001. "Race and Home Ownership in Twentieth Century America: The Role of Sample Composition," Working Papers 0110, Department of Economics, Vanderbilt University. [Downloadable!]
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