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Racial Disparities, Homeownership, and Mortgage Lending in the Post-Great Recession Period: the Case of the Minneapolis-St. Paul Metropolitan Area

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  • Samuel L. Myers

    (University of Minnesota)

  • Won Fy Lee

    (University of Minnesota)

Abstract

Racial disparities in homeownership in Minnesota are among the largest in the nation. In this study, we document the widening racial disparities in homeownership rates and credit market conditions during the Great Recession using Census and HMDA data. During the Great Recession, the disparities in both credit lending and loan application rates widened, which contributed to the widening racial disparities in homeownership rates. Our study suggests that the Great Recession has disproportionately impacted the experience of black families

Suggested Citation

  • Samuel L. Myers & Won Fy Lee, 2018. "Racial Disparities, Homeownership, and Mortgage Lending in the Post-Great Recession Period: the Case of the Minneapolis-St. Paul Metropolitan Area," Journal of Economics, Race, and Policy, Springer, vol. 1(2), pages 47-59, September.
    • Handle: RePEc:spr:joerap:v:1:y:2018:i:2:d:10.1007_s41996-018-0018-4
    DOI: 10.1007/s41996-018-0018-4
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    References listed on IDEAS

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    1. Munnell, Alicia H. & Geoffrey M. B. Tootell & Lynn E. Browne & James McEneaney, 1996. "Mortgage Lending in Boston: Interpreting HMDA Data," American Economic Review, American Economic Association, vol. 86(1), pages 25-53, March.
    2. Patrick Bayer & Fernando Ferreira & Stephen L. Ross, 2018. "What Drives Racial and Ethnic Differences in High-Cost Mortgages? The Role of High-Risk Lenders," The Review of Financial Studies, Society for Financial Studies, vol. 31(1), pages 175-205.
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