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Exits From Homeownership: The Effects Of Race, Ethnicity, And Income

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  • Tracy M. Turner
  • Marc T. Smith

Abstract

This paper examines the extent to which populations experiencing low homeownership rates in the U.S. also experience high homeownership exit rates. We determine whether low-income Hispanic and black households that achieve homeownership are as likely as white and high-income households to sustain it. Using the Panel Study of Income Dynamics spanning the years 1970-2005, we find that low-income homeowners consistently have higher homeownership exit rates, Hispanic households have higher raw exit rates prior to but not subsequent to 1997, and a black/white sustainability gap appears to arise post-1997. Copyright (c) 2008, Wiley Periodicals, Inc.

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  • Tracy M. Turner & Marc T. Smith, 2009. "Exits From Homeownership: The Effects Of Race, Ethnicity, And Income," Journal of Regional Science, Wiley Blackwell, vol. 49(1), pages 1-32.
  • Handle: RePEc:bla:jregsc:v:49:y:2009:i:1:p:1-32
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    Cited by:

    1. Eileen Diaz McConnell & Ilana Redstone Akresh, 2013. "Home Equity of New Legal Immigrants in the United States: An Evaluation of Three Key Theoretical Perspectives," International Migration Review, Wiley Blackwell, vol. 47(3), pages 686-729, September.
    2. Casey Dawkins & Jae Sik Jeon & Rolf Pendall, 2015. "Vehicle Access And Exposure To Neighborhood Poverty: Evidence From The Moving To Opportunity Program," Journal of Regional Science, Wiley Blackwell, vol. 55(5), pages 687-707, November.
    3. Piazzesi, M. & Schneider, M., 2016. "Housing and Macroeconomics," Handbook of Macroeconomics, Elsevier.
    4. Mundra, Kusum, 2013. "Minority and Immigrant Homeownership Experience: Evidence from the 2009 American Housing Survey," IZA Discussion Papers 7131, Institute for the Study of Labor (IZA).
    5. Christian A. L. Hilber & Tracy M. Turner, 2014. "The Mortgage Interest Deduction and its Impact on Homeownership Decisions," The Review of Economics and Statistics, MIT Press, vol. 96(4), pages 618-637, October.
    6. Sarah Riley, 2012. "Land use regulations and the returns to low-income homeownership," The Annals of Regional Science, Springer;Western Regional Science Association, vol. 49(3), pages 745-766, December.
    7. Riley, Sarah F. & Ru, Hong Yu & Feng, Qing, 2013. "The User Cost of Low-Income Homeownership," Journal of Regional Analysis and Policy, Mid-Continent Regional Science Association, vol. 43(2).
    8. Chakrabarty, Durba & Osei, Michael J. & Winters, John V. & Zhao, Danyang, 2017. "Are Immigrant and Minority Homeownership Rates Gaining Ground in the US?," IZA Discussion Papers 10852, Institute for the Study of Labor (IZA).
    9. Mallach, Alan, 2016. "Is the Urban Middle Neighborhood an Endangered Species? Multiple Challenges and Difficult Answers," Community Development Investment Review, Federal Reserve Bank of San Francisco, issue 01, pages 046-062.
    10. Turner, Tracy M. & Luea, Heather, 2009. "Homeownership, wealth accumulation and income status," Journal of Housing Economics, Elsevier, vol. 18(2), pages 104-114, June.
    11. Boehm, Thomas P. & Schlottmann, Alan M., 2014. "The dynamics of housing tenure choice: Lessons from Germany and the United States," Journal of Housing Economics, Elsevier, vol. 25(C), pages 1-19.

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