HAVE HOMEOWNERSHIP RATES TRANSITIONED SINCE THE FINANCIAL CRISIS? EVIDENCE FROM THE SURVEY OF CONSUMER FINANCES DATA.
1 online resource (47 pages) : PDF
University of North Carolina at Charlotte
Since 1989, significant mortgage finance innovation and federal policies with the intent of increasing homeownership participation particularly amongst minorities were implemented until the 2007 recession. This paper uses the Survey of Consumer Finances to analyze the lasting effectiveness of the mortgage finance innovations and federal policies on owner-occupancy rates leading up to and after the financial recession in 2007 until 2013. The results indicate that policy and macroeconomic factors offer temporary shifts in homeownership participation while household attribute changes have long lasting impact. Trends in the savings patterns of renters work as an effective measure for transitioning into homeownership. Shift-share analysis reinforces the idea that the model coefficients effectively capture household sentiment and macroeconomic conditions. Homeownership participation, especially amongst minorities, improved in 2013 relative to 1989 but the homeownership gap between minorities and white households has grown.
EconomicsHispanic Americans--Study and teachingEthnicity--Study and teachingAfrican Americans--Study and teaching
Zillante, ArtieGandar, JohnMayock, Thomas
Thesis (M.S.)--University of North Carolina at Charlotte, 2017.
This Item is protected by copyright and/or related rights. You are free to use this Item in any way that is permitted by the copyright and related rights legislation that applies to your use. For other uses you need to obtain permission from the rights-holder(s). For additional information, see http://rightsstatements.org/page/InC/1.0/.
Copyright is held by the author unless otherwise indicated.