| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w19020 |
| 来源ID | Working Paper 19020 |
| The Vulnerability of Minority Homeowners in the Housing Boom and Bust | |
| Patrick Bayer; Fernando Ferreira; Stephen L. Ross | |
| 发表日期 | 2013-05-02 |
| 出版年 | 2013 |
| 语种 | 英语 |
| 摘要 | This paper examines mortgage outcomes for a large, representative sample of individual home purchases and refinances linked to credit scores in seven major US markets in the recent housing boom and bust. Among those with similar credit scores and loan attributes, black and Hispanic homeowners had much higher rates of delinquency and default in the downturn. There is important heterogeneity within minorities: black and Hispanics that live in areas with lower employment rates and that have high debt to income ratios are the driving force behind the observed racial and ethnic differences in foreclosures and delinquencies. Moreover, these estimated differences are especially pronounced for loans originated near the peak of the housing boom even after controlling for the effect of origination timing on households’ equity position. These findings suggest that black and Hispanic homeowners drawn into the market near the peak were especially vulnerable to adverse economic shocks and raise concerns about homeownership as a mechanism for reducing racial disparities in wealth. |
| 主题 | Labor Economics ; Demography and Aging ; Regional and Urban Economics |
| URL | https://www.nber.org/papers/w19020 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/576693 |
| 推荐引用方式 GB/T 7714 | Patrick Bayer,Fernando Ferreira,Stephen L. Ross. The Vulnerability of Minority Homeowners in the Housing Boom and Bust. 2013. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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