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Trends in homeownership: race, demographics, and income

  • Lewis M. Segal
  • Daniel G. Sullivan

The nation's homeownership rate recently reached an all-time high, with especially large gains among black households. This article quantifies the impact of underlying demographic and income trends on homeownership, concluding that while much of the increase in the aggregate homeownership rate can be attributed to faster growth in real incomes, the gains experienced by blacks may, in part, reflect a new regulatory environment.

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File URL: http://www.chicagofed.org/digital_assets/publications/economic_perspectives/1998/ep2Q98_4.pdf
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Article provided by Federal Reserve Bank of Chicago in its journal Economic Perspectives.

Volume (Year): (1998)
Issue (Month): Q II ()
Pages: 53-72

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Handle: RePEc:fip:fedhep:y:1998:i:qii:p:53-72:n:v.22no.2
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  1. Blau, Francine D & Graham, John W, 1990. "Black-White Differences in Wealth and Asset Composition," The Quarterly Journal of Economics, MIT Press, vol. 105(2), pages 321-39, May.
  2. Menchik, Paul L & Jianakoplos, Nancy Ammon, 1997. "Black-White Wealth Inequality: Is Inheritance the Reason?," Economic Inquiry, Western Economic Association International, vol. 35(2), pages 428-42, April.
  3. Green, Richard K., 1996. "Should the stagnant homeownership rate be a source of concern?," Regional Science and Urban Economics, Elsevier, vol. 26(3-4), pages 337-368, June.
  4. Douglas D. Evanoff & Lewis M. Segal, 1996. "CRA and fair lending regulations: resulting trends in mortgage lending," Economic Perspectives, Federal Reserve Bank of Chicago, issue Nov, pages 19-46.
  5. Denice DiPasquale & Edward L. Glaeser, 1997. "Incentives and Social Capital: Are Homeowners Better Citizens?," Harvard Institute of Economic Research Working Papers 1815, Harvard - Institute of Economic Research.
  6. Richard K. Green & Michelle J. White, 1994. "Measuring the Benefits of Homeowning: Effects on Children," University of Chicago - George G. Stigler Center for Study of Economy and State 93, Chicago - Center for Study of Economy and State.
  7. Gyourko, Joseph & Linneman, Peter, 1996. "Analysis of the Changing Influences on Traditional Households' Ownership Patterns," Journal of Urban Economics, Elsevier, vol. 39(3), pages 318-341, May.
  8. Satyajit Chatterjee, 1996. "Taxes, homeownership, and the allocation of residential real estate risks," Business Review, Federal Reserve Bank of Philadelphia, issue Sep, pages 3-10.
  9. Erik Hurst & Ming Ching Luoh & Frank P. Stafford, 1998. "The Wealth Dynamics of American Families, 1984-94," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 29(1), pages 267-338.
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