HAVE HOMEOWNERSHIP RATES TRANSITIONED SINCE THE FINANCIAL CRISIS? EVIDENCE FROM THE SURVEY OF CONSUMER FINANCES DATA.

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Amrelle, K. (2017). HAVE HOMEOWNERSHIP RATES TRANSITIONED SINCE THE FINANCIAL CRISIS? EVIDENCE FROM THE SURVEY OF CONSUMER FINANCES DATA. Unc Charlotte Electronic Theses And Dissertations.
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Abstract

Since 1989, significant mortgage finance innovation and federal policies with the intent of increasing homeownership participation particularly amongst minorities were implemented until the 2007 recession. This paper uses the Survey of Consumer Finances to analyze the lasting effectiveness of the mortgage finance innovations and federal policies on owner-occupancy rates leading up to and after the financial recession in 2007 until 2013. The results indicate that policy and macroeconomic factors offer temporary shifts in homeownership participation while household attribute changes have long lasting impact. Trends in the savings patterns of renters work as an effective measure for transitioning into homeownership. Shift-share analysis reinforces the idea that the model coefficients effectively capture household sentiment and macroeconomic conditions. Homeownership participation, especially amongst minorities, improved in 2013 relative to 1989 but the homeownership gap between minorities and white households has grown.

Details
Author

Amrelle, Kevin

Title

HAVE HOMEOWNERSHIP RATES TRANSITIONED SINCE THE FINANCIAL CRISIS? EVIDENCE FROM THE SURVEY OF CONSUMER FINANCES DATA.

Physical Description

1 online resource (47 pages) : PDF

Date

2017

Degree Granting Institution

University of North Carolina at Charlotte

Abstract

Since 1989, significant mortgage finance innovation and federal policies with the intent of increasing homeownership participation particularly amongst minorities were implemented until the 2007 recession. This paper uses the Survey of Consumer Finances to analyze the lasting effectiveness of the mortgage finance innovations and federal policies on owner-occupancy rates leading up to and after the financial recession in 2007 until 2013. The results indicate that policy and macroeconomic factors offer temporary shifts in homeownership participation while household attribute changes have long lasting impact. Trends in the savings patterns of renters work as an effective measure for transitioning into homeownership. Shift-share analysis reinforces the idea that the model coefficients effectively capture household sentiment and macroeconomic conditions. Homeownership participation, especially amongst minorities, improved in 2013 relative to 1989 but the homeownership gap between minorities and white households has grown.

Genre

masters theses

Subjects--Topics

Economics
Hispanic Americans--Study and teaching
Ethnicity--Study and teaching
African Americans--Study and teaching

Degree

M.S.

Keywords

Demographics
Gap
Homeownership
Race
Rates
Recession

Subject Area

Economics

Advisor(s)

Mayock, Thomas

Committee Members

Zillante, Artie
Gandar, John
Mayock, Thomas

Degree Note

Thesis (M.S.)--University of North Carolina at Charlotte, 2017.

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Rights Holder Information

Copyright is held by the author unless otherwise indicated.

Identifier

Amrelle_uncc_0694N_11490

Permalink

http://hdl.handle.net/20.500.13093/etd:1150