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The Influence of Household Formation on Homeownership Rates Across Time and Race

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Author Info
Donald R. Haurin
Stuart S. Rosenthal

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Abstract

Homeownership rates equal the number of households that own homes divided by the number of households in the population. Differences in the propensity to form a household, therefore, may contribute to changes in homeownership rates over time in addition to long-standing racial gaps in homeownership. We examine these issues on an age-specific basis using data from the 1970 to 2000 public use microsamples of the decennial census. Results indicate that lower headship rates tend to reduce homeownership rates. This pattern is most notable for individuals in their early and mid 20s. For these individuals, declining headship rates between 1970 and 2000 reduced homeownership rates by three to five percentage points. Moreover, 2000 African American headship rates narrow white-black gaps in homeownership by roughly three percentage points, whereas 2000 Hispanic headship rates widen white-Hispanic gaps in homeownership by two to three percentage points. Thus, controlling for differences in headship behavior, white-black homeownership gaps are somewhat more severe than previously recognized, but the reverse is true for white-Hispanic gaps. Copyright 2007 American Real Estate and Urban Economics Association

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File URL: http://www.blackwell-synergy.com/doi/abs/10.1111/j.1540-6229.2007.00196.x
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Article provided by American Real Estate and Urban Economics Association in its journal Real Estate Economics.

Volume (Year): 35 (2007)
Issue (Month): 4 (December)
Pages: 411-450
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Handle: RePEc:bla:reesec:v:35:y:2007:i:4:p:411-450

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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.:
  1. Harvey S. Rosen, 1985. "Housing Subsidies: Effects on Housing Decisions, Efficiency, and Equity," NBER Working Papers 1161, National Bureau of Economic Research, Inc. [Downloadable!] (restricted)
  2. Ermisch, John & Di Salvo, Pamela, 1997. "The Economic Determinants of Young People's Household Formation," Economica, London School of Economics and Political Science, vol. 64(256), pages 627-44, November. [Downloadable!] (restricted)
  3. Boyes, William J. & Hoffman, Dennis L. & Low, Stuart A., 1989. "An econometric analysis of the bank credit scoring problem," Journal of Econometrics, Elsevier, vol. 40(1), pages 3-14, January. [Downloadable!] (restricted)
  4. Ermisch, John, 1999. "Prices, Parents, and Young People's Household Formation," Journal of Urban Economics, Elsevier, vol. 45(1), pages 47-71, January. [Downloadable!] (restricted)
  5. Haurin, Donald R & Hendershott, Patric H & Kim, Dongwook, 1993. "The Impact of Real Rents and Wages on Household Formation," The Review of Economics and Statistics, MIT Press, vol. 75(2), pages 284-93, May. [Downloadable!] (restricted)
  6. Donald R. Haurin & R. Jean Haurin & Steven Garasky, 2001. "Group living decisions as youths transition to adulthood," Journal of Population Economics, Springer, vol. 14(2), pages 329-349. [Downloadable!] (restricted)
  7. Rosen, Harvey S., 1985. "Housing subsidies: Effects on housing decisions, efficiency, and equity," Handbook of Public Economics, in: A. J. Auerbach & M. Feldstein (ed.), Handbook of Public Economics, edition 1, volume 1, chapter 7, pages 375-420 Elsevier. [Downloadable!] (restricted)
  8. Borsch-Supan, Axel, 1986. "Household formation, housing prices, and public policy impacts," Journal of Public Economics, Elsevier, vol. 30(2), pages 145-164, July. [Downloadable!] (restricted)
  9. Haurin Donald R. & Hendershott Patric H. & Kim Dongwook, 1994. "Housing Decisions of American Youth," Journal of Urban Economics, Elsevier, vol. 35(1), pages 28-45, January. [Downloadable!] (restricted)
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  1. Richard K. Green & Donald Bradley & Brian Surette, 2006. "Overcoming the Barriers to Mexican-American Homeownership," Working Papers 0001, School of Business, The George Washington University. [Downloadable!]
  2. Richard K. Green, 2006. "Airports and Economic Development," Working Papers 0002, School of Business, The George Washington University. [Downloadable!]
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