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Income Gains and the Geography of the US Home Ownership Boom, 1940 to 1960

In: The Economic History of American Inequality: New Evidence and Perspectives

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  • William J. Collins
  • Gregory T. Niemesh

Abstract

Income and home ownership both surged in the United States between 1940 and 1960. We use cross-place variation in changes in real income to assess the importance of income gains to the mid-century home ownership boom. OLS and IV estimates suggest that a large share of the overall increase in home ownership was attributable to wage gains that were both large on average and widely spread across workers. This research complements the literatures on how New Deal mortgage market innovations and the World War II and Korean War GI Bills promoted home ownership in this period.
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Suggested Citation

  • William J. Collins & Gregory T. Niemesh, 2024. "Income Gains and the Geography of the US Home Ownership Boom, 1940 to 1960," NBER Chapters, in: The Economic History of American Inequality: New Evidence and Perspectives, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberch:14845
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    References listed on IDEAS

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    2. Maloney, Thomas N., 1994. "Wage Compression and Wage Inequality Between Black and White Males in the United States, 1940–1960," The Journal of Economic History, Cambridge University Press, vol. 54(2), pages 358-381, June.
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    Cited by:

    1. Liu, Liyi & McManus, Douglas, 2024. "Impact of skills in early adulthood on lifetime homeownership disparities," Journal of Housing Economics, Elsevier, vol. 65(C).

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    More about this item

    JEL classification:

    • J31 - Labor and Demographic Economics - - Wages, Compensation, and Labor Costs - - - Wage Level and Structure; Wage Differentials
    • N32 - Economic History - - Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy - - - U.S.; Canada: 1913-
    • N92 - Economic History - - Regional and Urban History - - - U.S.; Canada: 1913-
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand

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