| 来源类型 | Working Paper
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| 规范类型 | 报告
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| DOI | 10.3386/w28759
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| 来源ID | Working Paper 28759
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| Racial and Ethnic Differences in the Financial Returns to Home Purchases from 2007 to 2020 |
| Matthew E. Kahn
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| 发表日期 | 2021-05-10
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| 出版年 | 2021
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| 语种 | 英语
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| 摘要 | The racial and ethnic composition of home buyers varies across geographic locations. For example, Asians and Hispanics are much more likely to buy homes in California than Blacks and Blacks are more likely to buy homes in Georgia than other demographic groups. Home prices grow at different rates across geographic units such as counties or zip codes. Hedonic bundling inhibits buyers from purchasing shares of different homes and forming a spatially diversified housing portfolio. Spatial variation in purchases suggests that the average rate of return to housing varies across racial and ethnic groups. To test this claim, I construct a geographic shift-share index by combining Zillow geographic specific home price index data with HMDA micro data. The shift share calculations yield the average rate of return to home ownership by purchase year, and sale year for different demographic groups. Over the years 2007 to 2020, Blacks earned a lower rate of return on home purchases than Asians and Hispanics and the sample average. Within geographic areas, average loan differences across racial and ethnic groups are very small. |
| 主题 | Regional and Urban Economics
; Real Estate
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| URL | https://www.nber.org/papers/w28759
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| 来源智库 | National Bureau of Economic Research (United States)
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| 引用统计 |
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| 资源类型 | 智库出版物
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| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/586433
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推荐引用方式
GB/T 7714 |
Matthew E. Kahn. Racial and Ethnic Differences in the Financial Returns to Home Purchases from 2007 to 2020. 2021.
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文件名：
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w28759.pdf
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格式：
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Adobe PDF
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