Minority and Immigrant Homeownership Experience: Evidence from the 2009 American Housing Survey
Using data from the 2009 American Housing Survey and Hazard Model, this paper provides empirical evidence that the homeownership experience during the recent housing boom and housing bust was not homogenous across all groups in the U.S. The recent deterioration of underwriting practices and a boom in mortgage lending did not benefit minorities and immigrant homeownership in the U.S. Blacks experienced significantly lower increase in homeownership than the whites but highest exit from homeownership particularly if they obtained the mortgage during subprime boom period from 2004 – 2006. Hispanics, on the other hand, did not experience significant increase in homeownership and neither did they face a higher exit from homeownership compared to whites. However, Hispanic immigrants were worse off in the recent housing market than Hispanic natives. Immigrants were worse off in the recent housing market than the natives, but naturalized immigrants fared better than the non-naturalized immigrants.
|Date of creation:||Jan 2013|
|Contact details of provider:|| Postal: IZA, P.O. Box 7240, D-53072 Bonn, Germany|
Phone: +49 228 3894 223
Fax: +49 228 3894 180
Web page: http://www.iza.org
|Order Information:|| Postal: IZA, Margard Ody, P.O. Box 7240, D-53072 Bonn, Germany|
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.:
- W. Scott Frame & Lawrence J. White, 2005.
"Fussing and Fuming over Fannie and Freddie: How Much Smoke, How Much Fire?,"
Journal of Economic Perspectives,
American Economic Association, vol. 19(2), pages 159-184, Spring.
- W. Scott Frame & Lawrence J. White, 2004. "Fussing and fuming over Fannie and Freddie: how much smoke, how much fire?," FRB Atlanta Working Paper 2004-26, Federal Reserve Bank of Atlanta.
- Lawrence White & W. Scott Frame, 2004. "Fussing and Fuming over Fannie and Freddie: How Much Smoke, How Much Fire?," Working Papers 04-27, New York University, Leonard N. Stern School of Business, Department of Economics.
- Marsha J. Courchane & Brian J. Surette & Peter M. Zorn, 2004. "Subprime Borrowers: Mortgage Transitions and Outcomes," The Journal of Real Estate Finance and Economics, Springer, vol. 29(4), pages 365-392, December.
- Catalina Amuedo-Dorantes & Kusum Mundra, 2013.
"Immigrant Homeownership and Immigration Status: Evidence from Spain,"
Review of International Economics,
Wiley Blackwell, vol. 21(2), pages 204-218, 05.
- Amuedo-Dorantes, Catalina & Mundra, Kusum, 2012. "Immigrant Homeownership and Immigration Status: Evidence from Spain," IZA Discussion Papers 6676, Institute for the Study of Labor (IZA).
- Catalina Amuedo-Dorantes & Kusum Mundra, 2013. "Immigrant Homeownership and Immigration Status: Evidence from Spain," CReAM Discussion Paper Series 1301, Centre for Research and Analysis of Migration (CReAM), Department of Economics, University College London.
- Yuliya Demyanyk & Otto Van Hemert, 2009.
"Understanding the subprime mortgage crisis,"
Federal Reserve Bank of San Francisco, issue Jan.
- Daglish, Toby, 2009. "What motivates a subprime borrower to default?," Journal of Banking & Finance, Elsevier, vol. 33(4), pages 681-693, April.
- Kau, James B. & Keenan, Donald C. & Lyubimov, Constantine & Carlos Slawson, V., 2011. "Subprime mortgage default," Journal of Urban Economics, Elsevier, vol. 70(2-3), pages 75-87, September.
- Ho, Giang & Pennington-Cross, Anthony, 2006.
"The impact of local predatory lending laws on the flow of subprime credit,"
Journal of Urban Economics,
Elsevier, vol. 60(2), pages 210-228, September.
- Giang Ho & Anthony Pennington-Cross, 2006. "The impact of local predatory lending laws on the flow of subprime credit," Working Papers 2006-009, Federal Reserve Bank of St. Louis.
- George J. Borjas, 1992. "Ethnic Capital and Intergenerational Mobility," The Quarterly Journal of Economics, Oxford University Press, vol. 107(1), pages 123-150.
- Kau, James B. & Keenan, Donald C. & Lyubimov, Constantine & Carlos Slawson, V., 2011. "Subprime mortgage default," Journal of Urban Economics, Elsevier, vol. 70(2), pages 75-87.
- Coulson, N. Edward, 1999. "Why Are Hispanic- and Asian-American Homeownership Rates So Low?: Immigration and Other Factors," Journal of Urban Economics, Elsevier, vol. 45(2), pages 209-227, March.
- Yuliya Demyanyk, 2009. "Quick exits of subprime mortgages," Review, Federal Reserve Bank of St. Louis, issue Mar, pages 79-94.
- Anthony Pennington-Cross & Giang Ho, 2010.
"The Termination of Subprime Hybrid and Fixed-Rate Mortgages,"
Real Estate Economics,
American Real Estate and Urban Economics Association, vol. 38(3), pages 399-426.
- Anthony Pennington-Cross & Giang Ho, 2006. "The termination of subprime hybrid and fixed rate mortgages," Working Papers 2006-042, Federal Reserve Bank of St. Louis.
- Painter, Gary & Gabriel, Stuart & Myers, Dowell, 2001.
"Race, Immigrant Status, and Housing Tenure Choice,"
Journal of Urban Economics,
Elsevier, vol. 49(1), pages 150-167, January.
- Nothaft, Frank E. & Perry, Vanessa G., 2002. "Do mortgage rates vary by neighborhood? Implications for loan pricing and redlining," Journal of Housing Economics, Elsevier, vol. 11(3), pages 244-265, September.
- Bocian, Debbie Gruenstein & Ernst, Keith S. & Li, Wei, 2008. "Race, ethnicity and subprime home loan pricing," Journal of Economics and Business, Elsevier, vol. 60(1-2), pages 110-124.
- Lauren Krivo & Robert Kaufman, 2004. "Housing and wealth inequality: Racial-ethnic differences in home equity in the United States," Demography, Springer;Population Association of America (PAA), vol. 41(3), pages 585-605, August.
- 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.
- Eileen McConnell & Ilana Akresh, 2010. "Housing Cost Burden and New Lawful Immigrants in the United States," Population Research and Policy Review, Springer;Southern Demographic Association (SDA), vol. 29(2), pages 143-171, April.
- Andrew F. Haughwout & Christopher J. Mayer & Joseph Tracy, 2009. "Subprime mortgage pricing: the impact of race, ethnicity, and gender on the cost of borrowing," Staff Reports 368, Federal Reserve Bank of New York.
- Gary A. Dymski, 2006. "Discrimination in the Credit and Housing Markets: Findings and Challenges," Chapters, in: Handbook on the Economics of Discrimination, chapter 8 Edward Elgar Publishing.
When requesting a correction, please mention this item's handle: RePEc:iza:izadps:dp7131. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Mark Fallak)
If references are entirely missing, you can add them using this form.