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Alternative Measures of Homeownership Gaps Across Segregated Neighboorhoods

  • Paul Carrillo

    ()

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

  • Anthony Yezer

    ()

    (Department of Economics, George Washington University)

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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File URL: http://www.gwu.edu/~iiep/assets/docs/papers/Carrillo_IIEPWP2008-7.pdf
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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
Contact details of provider: Web page: http://www.gwu.edu/~iiep/
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  1. Gary Painter & Stuart A. Gabriel & Dowell Myers, 1999. "Race, Immigrant Status, and Housing Tenure Choice," Working Paper 8660, USC Lusk Center for Real Estate.
  2. Moshe Buchinsky, 1998. "Recent Advances in Quantile Regression Models: A Practical Guideline for Empirical Research," Journal of Human Resources, University of Wisconsin Press, vol. 33(1), pages 88-126.
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  7. Albrecht, James & van Vuuren, Aico & Vroman, Susan, 2009. "Counterfactual distributions with sample selection adjustments: Econometric theory and an application to the Netherlands," Labour Economics, Elsevier, vol. 16(4), pages 383-396, August.
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  14. Stuart A. Gabriel & Stuart S. Rosenthal, 2004. "Homeownership in the 1980s and 1990s: Aggregate Trends and Racial Gaps," Working Paper 8596, USC Lusk Center for Real Estate.
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