 The impact of real Estate Market knowledge on tenure choice: A comparison of black and white householdsDonald Haurin and Hazel A. Morrow‐Jones Housing Policy Debate, 2006, vol. 17, issue 4, 625-653 Abstract: Homeownership is an important social and financial achievement for most U.S. households. Various explanations have been offered for the large and persistent gap in the ownership rates of black and white households, but studies have consistently fallen short of identifying all of the causes. The data we used were derived from a survey of the residents of the Columbus, OH, area. We argue that differences in real estate market knowledge and information affect the tenure choice decisions of black and white households. We estimate a model that is augmented to include a measure of real estate knowledge and find that additional knowledge increases the likelihood of homeownership. This holds even when we account for the endogeneity of such knowledge. We conclude that differences in real estate knowledge contribute to explaining the racial gap in homeownership rates, a finding that can be addressed through public policy interventions such as counseling programs. Date: 2006 Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:taf:houspd:v:17:y:2006:i:4:p:625-653 Ordering information: This journal article can be ordered from DOI: 10.1080/10511482.2006.9521584 Access Statistics for this article Housing Policy Debate is currently edited by Tom Sanchez, Susanne Viscarra and Derek Hyra More articles in Housing Policy Debate from Taylor & Francis Journals |
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