Michelle Aronowitz ♦ Jung Hyun Choi ♦ Edward Golding Morgan Green ♦ Richard K. Green ♦ Maurice Jourdain-Earl Ashlyn Aiko Nelson ♦ Lauren Rhue ♦ Lisa Rice
Section 1 Notes
c.f., Yun, L., & Evangelou, N. (2016). Social Benefits of Homeownership and Stable Housing. National Association of Realtors; Green, R. K., Painter, G., & White, M. J. (2012). Measuring the Benefits of Homeowning: Effects on Children Redux. Haurin, D., Dietz, R., Weinberg, B., 2003. The impact of neighborhood homeownership rates: a review of the theoretical and empirical literature, Journal of Housing Research 13, 119-151.
Perry, Vanessa G. (2019), “A Loan at Last? Race and Racism in Mortgage Lending,” in Race in the Marketplace: Crossing Critical Boundaries, G.D. Johnson, K.D. Thomas, A.K. Harrison, S. A. Grier, editors: Palgrave MacMillan: Cham, Switzerland, 173-192.
U.S. Census, Annual Estimates of the Resident Population by Sex, Age, Race Alone or in Combination and Hispanic Origin for the United States: April 1, 2010 to July 1, 2019
“Building the Future with ‘Mortgage-Ready’ Borrowers,” presented by Freddie Mac and Housing Wire, https://sf.freddiemac.com/articles/insights/building-the-future-with-mortgage-ready-borrowers.
Roscigno, V.J., Karafin, D.L., & Tester, G. (2009). The complexities and processes of racial housing discrimination. Social Problems, 56(1), 49-69.
DiPrete, T.A. and Eirich, GM (2006). Cumulative advantage as a mechanism for inequality: a review of theoretical and empirical developments. Annual Review of Sociology, 32(1), 271-297.
Assumes Purchase Price White 330K Black 220K; Interest Rates White 4% Black 4.5%; Down Payment White 10% Black 3.5%; Property Tax Rate White 1% Black 1.13%; Rent Rate (of home value) White 1% Black 1%; Growth Rate
White 4.5% Black 0.5%. Data sources: 2018 HMDA, Center for American Progress, “The Assessment Gap: Racial Inequalities in Property Taxation, “Carlos Avenancio-Le´on and Troup Howard, Working paper, June 2020, https://www.washingtonpost.com/context/the-assessment-gap-racial-inequalities-in-property-taxation/215957a4-d5ad-47cd-821a-070cf23b6bc7/?itid=lk_inline_manual_3.
Census Household Pulse Survey data, https://www.census.gov/data/tables/2020/demo/hhp/hhp8.html
U.S. Census Bureau, Homeownership Rate for the United States, https://fred.stlouisfed.org/graph/?g=tNbQ
U.S. Census Bureau, Homeownership Rate for the United States, retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/NHWAHORUSQ156N
https://www.census.gov/quickfacts/fact/table/US/RHI825218#RHI825218; Source: U.S. Census Bureau, American Housing Survey, 2017 National - Household Demographics - All Occupied Units
Dettling, Lisa J., Joanne W. Hsu, Lindsay Jacobs, Kevin B. Moore, and Jeffrey P. Thompson (2017). "Recent Trends in Wealth-Holding by Race and Ethnicity: Evidence from the Survey of Consumer Finances," FEDS Notes. Washington: Board of Governors of the Federal Reserve System, September 27, 2017, https://doi.org/10.17016/2380-7172.2083.
Median house prices provided by Clear Capital, https://www.kiplinger.com/article/real-estate/T010-C000-S002-home-price-changes-in-the-100-largest-metro-areas.html; 2020 Black Homeownership by MSA from U.S. Census; National Association of Home Builders-Wells Fargo Opportunity Index
The dissimilarity index of racial segregation ranges from 0 to 100 and measures the percentage of one race that would have to move from one neighborhood to another to have the same racial composition in both neighborhoods.
Blau, F.D. and Graham, J.W. (1990) Black-White differences in wealth and asset composition, Quarterly Journal of Economics, 105, 321-33.
Flippen, C. (2004). Unequal returns to housing investments? A study of real housing appreciation among Black, White, and Hispanic households. Social Forces, 82(4), 1523–1551.
Avenancio-Leon, Carlos and Howard, Troup, The Assessment Gap: Racial Inequalities in Property Taxation (October 5, 2019). Available at SSRN: https://ssrn.com/abstract=3465010 or http://dx.doi.org/10.2139/ssrn.3465010
Replicated with permission from “Racial Disparities in Home Appreciation: Implications of the Racially Segmented Housing Market for African Americans’ Equity Building and the Enforcement of Fair Housing Policies, by Michela Zonta, Center for American Progress, July 15, 2019, https://www.americanprogress.org/issues/economy/reports/2019/07/15/469838/racial-disparities-home-appreciation.
“Building the Future with ‘Mortgage-Ready’ Borrowers,” presented by Freddie Mac and Housing Wire, https://sf.freddiemac.com/articles/insights/building-the-future-with-mortgage-ready-borrowers.
“Millennial Homeownership: Why Is It So Low, and How Can We Increase It? Jung Choi, Jun Zhu, Laurie Goodman, Bhargavi Ganesh, Sarah Strochak, July 2018, https://www.urban.org/sites/default/files/publication/98729/millennial_homeownership_0.pdf
2018 Millennial Homeownership Report: American Dream Delayed, Chris Salviati and Rob Warnock, https://www.apartmentlist.com/research/2018-millennial-homeownership-report-american-dream-delayed; https://www.nar.realtor/newsroom/student-debt-delaying-millennial-homeownership-by-7-years
2017 American Housing Survey
Ibid.
From “Building the Future with ‘Mortgage-Ready’ Borrowers,” presented by Freddie Mac and Housing Wire, https://sf.freddiemac.com/articles/insights/building-the-future-with-mortgage-ready-borrowers, reprinted with permission.