The homeownership gap
Andrew Haughwout,
Richard Peach () and
Joseph Tracy
Current Issues in Economics and Finance, 2010, vol. 16, issue May
Abstract:
Recent years have seen a sharp rise in the number of negative equity homeowners--those who owe more on their mortgages than their houses are worth. These homeowners are included in the official homeownership rate computed by the Census Bureau, but the savings they must amass to retain their home or purchase a new home are daunting. Recognizing that these homeowners are likely to convert to renters over time, the authors of this analysis calculate an \\"effective\\" rate of homeownership that excludes negative equity households. They argue that the effective rate--5.6 percentage points below the official rate--may be a useful guide to the future path of the official rate.
Keywords: Home ownership; Mortgages; Census; Statistics; Economic indicators (search for similar items in EconPapers)
Date: 2010
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (14)
Downloads: (external link)
https://www.newyorkfed.org/medialibrary/media/research/current_issues/ci16-5.pdf (application/pdf)
https://www.newyorkfed.org/medialibrary/media/rese ... t_issues/ci16-5.html (text/html)
Related works:
Working Paper: The homeownership gap (2009) 
This item may be available elsewhere in EconPapers: Search for items with the same title.
Export reference: BibTeX
RIS (EndNote, ProCite, RefMan)
HTML/Text
Persistent link: https://EconPapers.repec.org/RePEc:fip:fednci:y:2010:i:may:n:v.16no.5
Ordering information: This journal article can be ordered from
Access Statistics for this article
More articles in Current Issues in Economics and Finance from Federal Reserve Bank of New York Contact information at EDIRC.
Bibliographic data for series maintained by Gabriella Bucciarelli ().