Homeownership segregation

Nirupama Kulkarni and Ulrike Malmendier

Journal of Monetary Economics, 2022, vol. 129, issue C, 123-149

Abstract: Homeownership is considered an essential part of the “American Dream” and forms the foundation of upward mobility. We show that the upward mobility of children from low-income families is not predicted by homeownership rates, but by homeownership segregation. Higher residential segregation between homeowners and renters predicts lower upward mobility of children from low-income families, while not affecting high-income families. We hypothesize the 1968 Fair Housing Act preserved homeownership segregation in CZs since the 1970s, and feature more land-use regulation even today. Channels mediating the effect of homeownership on upward mobility include income segregation, racial segregation, school segregation, and commuting times.

JEL-codes: D14 J15 R21 R23 R31 (search for similar items in EconPapers)
Date: 2022
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Citations: View citations in EconPapers (1)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:moneco:v:129:y:2022:i:c:p:123-149

DOI: 10.1016/j.jmoneco.2022.05.001

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