Homeownership and wealth accumulation for low-income households

Allison Wainer and Jeffrey Zabel

Journal of Housing Economics, 2020, vol. 47, issue C

Abstract: One of the justifications for federal involvement in the homeownership market is that it provides one of the few ways that low-income households can accumulate wealth. To date, the evidence on this claim is mixed due to the lack of a framework that allows for an evaluation of the causal impact of homeownership on wealth accumulation. We make up for this deficit by using the 1984–2013 waves of the Panel Study of Income Dynamics that allows us to use a household-level fixed effects estimator to focus on how wealth changes for households that shift their tenure status from renting to owning.

Keywords: Homeownership status; Wealth accumulation; Low-income households (search for similar items in EconPapers)
JEL-codes: R21 R28 (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (15)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:jhouse:v:47:y:2020:i:c:s105113771730205x

DOI: 10.1016/j.jhe.2019.03.002

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