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White Suburbanization and African-American Home Ownership, 1940-1980

Boustan, Leah Platt - 2011

Between 1940 and 1980, the homeownership rate among metropolitan African-American households increased by 27 percentage … points. Nearly three-quarters of this increase occurred in central cities. We show that rising black homeownership in central … homeownership over the period is explained by white suburbanization …

Persistent link: https://www.econbiz.de/10013131306

Buying the American Dream : Housing Demand in the United States in the Late Nineteenth Century

Haines, Michael R.; Goodman, Allen C. - 2021

This paper examines homeownership and housing demand for a sample of approximately 6,800 urban, industrial workers in … indicate lower homeownership rates among American workers circa 1890 than later and significant effects on ownership of income …

Persistent link: https://www.econbiz.de/10013220430

Repairing a Mortgage Crisis : Holc Lending and its Impact on Local Housing Markets

Courtemanche, Charles - 2010

increased 1940 median home values and homeownership rates, but not new home building …

Persistent link: https://www.econbiz.de/10013139741

Arbitrage in Housing Markets

Glaeser, Edward L. - 2015

Urban economists understand housing prices with a spatial equilibrium approach that assumes people must be indifferent across locations. Since the spatial no arbitrage condition is inherently imprecise, other economists have turned to different no arbitrage conditions, such as the prediction...

Persistent link: https://www.econbiz.de/10012750289

Racial Segregation in Housing Markets and the Erosion of Black Wealth

Akbar, Prottoy - 2019

Housing is the most important asset for the vast majority of American households and a key driver of racial disparities in wealth. This paper studies how residential segregation by race eroded black wealth in prewar urban areas. Using a novel sample of matched addresses from prewar American...

Persistent link: https://www.econbiz.de/10012871151

Owner-Occupied Housing as a Hedge Against Rent Risk

Sinai, Todd M. - 2012

in house values. However, homeownership also provides a hedge against fluctuations in future rent payments. This paper … households so housing market risk actually increases homeownership rates and house prices. Further, the net effect of rent risk … on the demand for homeownership increases with a household's expected length of stay in its home, as the cumulative rent …

Persistent link: https://www.econbiz.de/10012755861

Expected Home Ownership and Real Wealth Accumulation of Youth

Haurin, Donald R. - 2012

This paper describes the real wealth accumulation of American youth and relates this behavior to variations in real constant-quality house prices in their localities of residence. We argue that increases in the real constant-quality house price have two offsetting effects on wealth. First, the...

Persistent link: https://www.econbiz.de/10012756067

Liquidity Constraints in the U.S. Housing Market

Gorea, Denis - 2017

We study the severity of liquidity constraints in the U.S. housing market using a life-cycle model with uninsurable idiosyncratic risks in which houses are illiquid, but agents can extract home equity by refinancing their mortgages. The model implies that four-fifths of homeowners are liquidity...

Persistent link: https://www.econbiz.de/10012957387

Human-Algorithm Interactions : Evidence from Zillow.Com

Fu, Runshan; Jin, Ginger Zhe; Liu, Meng - 2022

Using bi-weekly snapshots of Zillow in three US cities, we document how home sellers and buyers interact with Zillow's Zestimate algorithm during the sales cycle of residential properties. We find that listing and selling outcomes respond significantly to Zestimate, and Zestimate is quickly...

Persistent link: https://www.econbiz.de/10013295341

Housing Demand, Cost-of-Living Inequality, and the Affordability Crisis

Albouy, David - 2016

Since 1970, housing's relative price, share of expenditure, and ``unaffordability'' have all grown. We estimate housing demand using a novel compensated framework over space and an uncompensated framework over time. Our specifications pass tests imposed by rationality and household mobility....

Persistent link: https://www.econbiz.de/10012979369