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Regional disparities in homeownership trajectories: Impacts of affordability, new construction, and immigration

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  • Dowell Myers
  • Gary Painter
  • Zhou Yu
  • Sung Ryu
  • Liang Wei

Abstract

In contrast to the 1980s, we find substantial increases in the homeownership rates of young adults in the 1990s. Focusing on the younger half of the baby boom generation, aged 35 to 44 in 2000, we explore the factors that caused steeper trajectories into homeownership in some metropolitan areas. Factors include prices and incomes, housing construction relative to employment growth, and rates of household formation and immigration. Homeownership gains are modeled separately for whites, blacks, Asians, and Hispanics. Our findings highlight the importance of household formation on regional homeownership rates. Evidence shows greater homeownership gains in areas with greater rent increases, indicating lower relative costs of owning, and with greater price increases, indicating greater investment incentives. Our findings also underscore the importance of keeping housing construction consistent with employment growth. Finally, the effect of immigration was especially important for Hispanics, sharply depressing homeownership in regions with more recently arrived immigrants.

Suggested Citation

  • Dowell Myers & Gary Painter & Zhou Yu & Sung Ryu & Liang Wei, 2005. "Regional disparities in homeownership trajectories: Impacts of affordability, new construction, and immigration," Housing Policy Debate, Taylor & Francis Journals, vol. 16(1), pages 53-83.
    • Handle: RePEc:taf:houspd:v:16:y:2005:i:1:p:53-83
    DOI: 10.1080/10511482.2005.9521534
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    Cited by:

    1. Coulson, N. Edward & Dalton, Maurice, 2010. "Temporal and ethnic decompositions of homeownership rates: Synthetic cohorts across five censuses," Journal of Housing Economics, Elsevier, vol. 19(3), pages 155-166, September.
    2. Amelie F. Constant & Rowan Roberts & Klaus F. Zimmermann, 2009. "Ethnic Identity and Immigrant Homeownership," Urban Studies, Urban Studies Journal Limited, vol. 46(9), pages 1879-1898, August.
    3. Carrillo, Paul & Yezer, Anthony, 2009. "Alternative measures of homeownership gaps across segregated neighborhoods," Regional Science and Urban Economics, Elsevier, vol. 39(5), pages 542-552, September.
    4. Myers, Dowell & Lee, Hyojung & Simmons, Patrick A., 2020. "Cohort insights into recovery of Millennial homeownership after the Great Recession," Journal of Housing Economics, Elsevier, vol. 47(C).
    5. Meredith Greif, 2015. "The intersection of homeownership, race and neighbourhood context: Implications for neighbourhood satisfaction," Urban Studies, Urban Studies Journal Limited, vol. 52(1), pages 50-70, January.
    6. Chenoa Flippen, 2010. "The spatial dynamics of stratification: Metropolitan context, population redistribution, and black and Hispanic homeownership," Demography, Springer;Population Association of America (PAA), vol. 47(4), pages 845-868, November.
    7. Zhou Yu & Dowell Myers, 2010. "Misleading Comparisons of Homeownership Rates when the Variable Effect of Household Formation Is Ignored: Explaining Rising Homeownership and the Homeownership Gap between Blacks and Asians in the US," Urban Studies, Urban Studies Journal Limited, vol. 47(12), pages 2615-2640, November.

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