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Same-sex marriage laws and demand for mortgage credit

Author

Listed:
  • Joshua J. Miller

    (U.S. Department of Housing and Urban Development)

  • Kevin A. Park

    (U.S. Department of Housing and Urban Development)

Abstract

Marriage for same-sex couples was only permitted in a limited number of states prior to the U.S. Supreme Court’s 2015 decision in Obergefell v. Hodges. We exploit panel variation across states prior to the Supreme Court decision to investigate the effect of marriage laws on demand for mortgage credit. Identification relies on the fact that states permitted same-sex marriage at different points in time, often through court order whereby the outcome and timing of ruling was unknown. We estimate that states permitting same-sex marriage experienced a 6–16% increase in same-sex mortgage applications after the policy was implemented. Federal recognition of marriage is associated with a stronger effect than state same-sex marriage prior to the repeal of the Defense of Marriage Act, but the effect of state-recognized marriage is also stronger than anti-discrimination policies in housing. Our findings provide important insight not only to the housing choices of same-sex households but the impact of marriage on all households.

Suggested Citation

  • Joshua J. Miller & Kevin A. Park, 2018. "Same-sex marriage laws and demand for mortgage credit," Review of Economics of the Household, Springer, vol. 16(2), pages 229-254, June.
    • Handle: RePEc:kap:reveho:v:16:y:2018:i:2:d:10.1007_s11150-016-9356-7
    DOI: 10.1007/s11150-016-9356-7
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    Cited by:

    1. Brahma, Sanjukta & Gavriilidis, Konstantinos & Kallinterakis, Vasileios & Verousis, Thanos & Zhang, Mengyu, 2023. "LGBTQ and finance," International Review of Financial Analysis, Elsevier, vol. 86(C).
    2. Scott Fulford & Joanna Stavins, 2022. "Does getting a mortgage affect consumer credit use?," Review of Economics of the Household, Springer, vol. 20(3), pages 955-991, September.
    3. Margarida Madaleno, 2024. "Access to housing credit and marriage: evidence from redlining maps," Review of Economics of the Household, Springer, vol. 22(4), pages 1397-1422, December.
    4. Baranov, Victoria & de Haas, Ralph & Grosjean, Pauline, 2018. "Men. Roots and Consequences of Masculinity Norms," Other publications TiSEM 6fa57f55-71bb-42c4-8cc4-d, Tilburg University, School of Economics and Management.
    5. Hagendorff, Jens & Nguyen, Duc Duy & Sila, Vathunyoo, 2022. "Does marriage equality promote credit access? Evidence from same-sex marriage laws," Journal of Corporate Finance, Elsevier, vol. 77(C).

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    More about this item

    Keywords

    Same-sex marriage; Mortgages; Household formation; HMDA;
    All these keywords.

    JEL classification:

    • J12 - Labor and Demographic Economics - - Demographic Economics - - - Marriage; Marital Dissolution; Family Structure
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • R28 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Government Policy

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