Year Published
1999
Abstract
Large racial differences in home ownership have been a source of considerable concern
among policymakers because homeownership choice may influence wealth accumulation, labor
market outcomes, and even children's educational outcomes. Racial differences in ownership
rates may be affected by discrimination (Kain and Quigley, 1972), and extensive literatures
examine real estate broker and mortgage lender treatment of minorities, see for example Yinger
(1992) and Munnell et. al. (1996). In a direct examination of the ownership choice, Linneman
and Wachter (1989) find no significant racial differences in ownership among households who
are not wealth constrained in terms of standard downpayment requirements, but Gyourko,
Linneman, and Wachter (1997a) find that among constrained households whites are more likely
to own than equivalent minorities.
among policymakers because homeownership choice may influence wealth accumulation, labor
market outcomes, and even children's educational outcomes. Racial differences in ownership
rates may be affected by discrimination (Kain and Quigley, 1972), and extensive literatures
examine real estate broker and mortgage lender treatment of minorities, see for example Yinger
(1992) and Munnell et. al. (1996). In a direct examination of the ownership choice, Linneman
and Wachter (1989) find no significant racial differences in ownership among households who
are not wealth constrained in terms of standard downpayment requirements, but Gyourko,
Linneman, and Wachter (1997a) find that among constrained households whites are more likely
to own than equivalent minorities.
Research Category