The Experts below are selected from a list of 10284 Experts worldwide ranked by ideXlab platform
Christopher E Herbert - One of the best experts on this subject based on the ideXlab platform.
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the Homeownership experience of low income and minority households a review and synthesis of the literature
Social Science Research Network, 2008Co-Authors: Christopher E Herbert, Eric S BelskyAbstract:The purpose of this article is to review and synthesize literature about low-income and minority households' experience with Homeownership and to assess the extent to which Homeownership is likely to benefit these groups. We present this work in the interest of supporting the development of effective policies for promoting and supporting Homeownership and of addressing the concerns raised by those who fear that too great an emphasis is placed on promoting Homeownership. Although several recent reviews of the literature have assessed the empirical evidence on the benefits of Homeownership, this study is unique in that it explicitly focuses on what is known about low-income and minority households' experience with Homeownership.
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Homeownership gaps among low income and minority households
Social Science Research Network, 2007Co-Authors: Donald R Haurin, Christopher E Herbert, Stuart S RosenthalAbstract:Although Homeownership rates currently stand at historically high levels for all segments of the U.S. population, large gaps in Homeownership rates remain when comparing various groups of the population. As of the third quarter of 2006, the non-Hispanic White (hereafter, White) Homeownership rate was 76 percent while African-American and Hispanic Homeownership rates were below 50 percent and the Asian Homeownership rate was 60 percent. The Homeownership gap between African-American and White households was larger in 2006 than it was in 1990, while the Homeownership gap between Hispanics and Whites was only slightly smaller in 2006 than it was in 1990. Households with very low incomes had a Homeownership rate that was 37 percentage points below the rate for high-income households. These gaps have changed little over the past 50 years. The primary goal of this study is to synthesize what is known about the determinants of gaps in Homeownership rates by income status and racial and ethnic status. We first present a conceptual framework for analyzing the determinants of Homeownership. We then review the literature that identifies the relative importance of various contributing factors to observed Homeownership gaps, separating the factors into those that are observed and those that are part of an unexplained residual that represents unmeasured factors such as discrimination, lack of information about the homebuying and mortgage financing processes, and omitted socioeconomic variables.
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Homeownership gaps among low income and minority households
Research Papers in Economics, 2007Co-Authors: Donald R Haurin, Christopher E Herbert, Stuart S RosenthalAbstract:While Homeownership rates currently stand at historically high levels for all segments of the U.S. population, large gaps are present comparing various groups of the population. As of the third quarter of 2006, the non-Hispanic white Homeownership rate was 76 percent while black and Hispanic Homeownership rates were below 50 percent, and the Asian rate was 60 percent. The ownership gap between black and white households is larger in 2006 than 1990, while that between Hispanics and whites is only slightly smaller. Households with very-low income had a Homeownership rate that was 37 percentage points below the rate for high-income households. These gaps have changed little over the last 50 years. The primary goal of this study is to synthesize what is known about the determinants of gaps in Homeownership rates by income, racial, and ethnic status. We first present a conceptual framework for analyzing the determinants of Homeownership. We then review the literature that identifies the relative importance of various contributing factors to observed Homeownership gaps, separating the factors into those that are observed and those that are part of an unexplained residual that represents unmeasured factors such as discrimination, lack of information about the home buying and mortgage financing process, and omitted socio-economic variables.
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the potential of downpayment assistance for increasing Homeownership among minority and low income households
Social Science Research Network, 2007Co-Authors: Christopher E Herbert, Winnie TsenAbstract:The purpose of this study is to investigate the potential for downpayment assistance efforts to increase Homeownership. The study analyzes data from the 1996 panel of the Survey of Income and Program Participation, which tracks some 11,000 renter house- holds over a 3-year period. The analysis has two stages. In the first stage, a parametric proportional hazard model is estimated of the transition to Homeownership based on a variety of demographic and financial characteristics of each household and on economic conditions in the markets in which those households reside. In the second stage, the results of the hazard model are used to simulate the impact of cash grants to households on the probability of their becoming homeowners over time. The simulations are run for all renter households and for subgroups of low-income, African-American, and Hispanic households. Results confirm that liquid financial assets are statistically significant pre - dictors of Homeownership. Although the importance of wealth in predicting homeowner- ship is in keeping with the findings of previous research, a somewhat surprising finding is that the largest impact on the probability of Homeownership is associated with savings of between $0 and $1,000; although savings of between $1,000 and $5,000 have a lower marginal impact on this probability, savings of between $5,000 and $20,000 add only slightly to the likelihood of buying, and savings above $20,000 have no statistically significant impact. These results suggest that downpayment assistance programs that provide even modest amounts of assistance can have a significant impact on the number of low-income and minority households that buy homes.
Roberto G. Quercia - One of the best experts on this subject based on the ideXlab platform.
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sense of community and informal social control among lower income households the role of Homeownership and collective efficacy in reducing subjective neighborhood crime and disorder
American Journal of Community Psychology, 2013Co-Authors: Mark R Lindblad, Kim Manturuk, Roberto G. QuerciaAbstract:We examine the link between Homeownership, collective efficacy, and subjective neighborhood crime and disorder. Although prior research suggests that Homeownership provides social benefits, the housing downturn and foreclosure crisis, coupled with mounting evidence that people self-select into housing, raise questions about the role of Homeownership. We adjust for respondents’ decision to own or rent using a nationwide sample of lower-income households. We account for demographic and neighborhood characteristics as well as ratings of individual efficacy. We present a structural equation model that identifies how sense of community and informal social control jointly contribute to collective efficacy. The latent collective efficacy construct mediates the impact of Homeownership on resident’s perceptions of neighborhood disorder. Such perceptions matter because they have been linked to resident’s physical and mental health. Our findings demonstrate that when coupled with sustainable mortgages, Homeownership exerts a robust yet indirect effect in reducing subjective neighborhood crime and disorder. Our model also links collective efficacy to neighborhood racial homogeneity, a finding which presents challenges for the study of diversity and community. We discuss sense of community research as well as sustainable mortgages and implications of the foreclosure crisis for the future of Homeownership opportunities among lower income households and neighborhoods.
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friends and neighbors Homeownership and social capital among low to moderate income families
Journal of Urban Affairs, 2010Co-Authors: Kim Manturuk, Mark R Lindblad, Roberto G. QuerciaAbstract:ABSTRACT: This research explores whether Homeownership leads to increased individual social capital among low- to moderate-income families. Social capital refers to social resources a person can access through contacts with others in his or her social networks. We theorize that Homeownership can motivate interactions with others in one's neighborhood and therefore build social capital. Using a sample of low- and moderate-income homeowners and a matched sample of renters, we collect data on overall social resources and neighborhood-specific social resources. We find that homeowners have more total social capital resources and more neighborhood social capital resources than renters. Neighborhood group involvement has an indirect effect on social capital, but explains only a small amount of the influence of Homeownership. These findings hold when controlling for household-level and neighborhood-level sociodemographic variables, as well as when using statistical models that account for endogeneity. Based on this evidence, we conclude that Homeownership gives people access to social capital via increased social ties to others. We discuss the implications of this finding for housing policy and suggest new directions for research on social capital.
Deborah Quilgars - One of the best experts on this subject based on the ideXlab platform.
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demographic change and retirement planning comparing households views on the role of housing equity in germany and the uk
European Journal of Housing Policy, 2012Co-Authors: Anwen Jones, Tim Geilenkeuser, Ilse Helbrecht, Deborah QuilgarsAbstract:Abstract As states across Europe come under pressure to meet the needs of ageing populations, there has been increasing interest in the potential role of housing equity in funding welfare provision. This paper draws on the findings of a European study, Demographic Change and Housing Wealth (DEMHOW), which set out to explore whether housing plays a role in retirement planning. This paper compares the views of homeowners in Germany and the UK. The former is a country where Homeownership is the minority tenure and the preserve of affluent households, and where house prices have been stagnant for years. The latter is a country of Homeownership where half the poor are home owners, and where real house price increases over many decades have served to establish the belief that Homeownership is one of the best investments accessible to ordinary people. In addition, ‘equity release’ is more common, and related products better developed, in the UK than in Germany. Given these differences, it might be assumed UK hom...
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demographic change and retirement planning comparing households views on the role of housing equity in germany and the uk
European Journal of Housing Policy, 2012Co-Authors: Anwen Jones, Tim Geilenkeuser, Ilse Helbrecht, Deborah QuilgarsAbstract:As states across Europe come under pressure to meet the needs of ageing populations, there has been increasing interest in the potential role of housing equity in funding welfare provision. This paper draws on the findings of a European study, Demographic Change and Housing Wealth (DEMHOW), which set out to explore whether housing plays a role in retirement planning. This paper compares the views of homeowners in Germany and the UK. The former is a country where Homeownership is the minority tenure and the preserve of affluent households, and where house prices have been stagnant for years. The latter is a country of Homeownership where half the poor are home owners, and where real house price increases over many decades have served to establish the belief that Homeownership is one of the best investments accessible to ordinary people. In addition, ‘equity release’ is more common, and related products better developed, in the UK than in Germany. Given these differences, it might be assumed UK homeowners would be more willing to consider utilising housing equity to supplement their income in retirement than their German counterparts. This paper sets out to explore whether this is the case.
Stuart S Rosenthal - One of the best experts on this subject based on the ideXlab platform.
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Homeownership gaps among low income and minority households
Social Science Research Network, 2007Co-Authors: Donald R Haurin, Christopher E Herbert, Stuart S RosenthalAbstract:Although Homeownership rates currently stand at historically high levels for all segments of the U.S. population, large gaps in Homeownership rates remain when comparing various groups of the population. As of the third quarter of 2006, the non-Hispanic White (hereafter, White) Homeownership rate was 76 percent while African-American and Hispanic Homeownership rates were below 50 percent and the Asian Homeownership rate was 60 percent. The Homeownership gap between African-American and White households was larger in 2006 than it was in 1990, while the Homeownership gap between Hispanics and Whites was only slightly smaller in 2006 than it was in 1990. Households with very low incomes had a Homeownership rate that was 37 percentage points below the rate for high-income households. These gaps have changed little over the past 50 years. The primary goal of this study is to synthesize what is known about the determinants of gaps in Homeownership rates by income status and racial and ethnic status. We first present a conceptual framework for analyzing the determinants of Homeownership. We then review the literature that identifies the relative importance of various contributing factors to observed Homeownership gaps, separating the factors into those that are observed and those that are part of an unexplained residual that represents unmeasured factors such as discrimination, lack of information about the homebuying and mortgage financing processes, and omitted socioeconomic variables.
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Homeownership gaps among low income and minority households
Research Papers in Economics, 2007Co-Authors: Donald R Haurin, Christopher E Herbert, Stuart S RosenthalAbstract:While Homeownership rates currently stand at historically high levels for all segments of the U.S. population, large gaps are present comparing various groups of the population. As of the third quarter of 2006, the non-Hispanic white Homeownership rate was 76 percent while black and Hispanic Homeownership rates were below 50 percent, and the Asian rate was 60 percent. The ownership gap between black and white households is larger in 2006 than 1990, while that between Hispanics and whites is only slightly smaller. Households with very-low income had a Homeownership rate that was 37 percentage points below the rate for high-income households. These gaps have changed little over the last 50 years. The primary goal of this study is to synthesize what is known about the determinants of gaps in Homeownership rates by income, racial, and ethnic status. We first present a conceptual framework for analyzing the determinants of Homeownership. We then review the literature that identifies the relative importance of various contributing factors to observed Homeownership gaps, separating the factors into those that are observed and those that are part of an unexplained residual that represents unmeasured factors such as discrimination, lack of information about the home buying and mortgage financing process, and omitted socio-economic variables.
Kim Manturuk - One of the best experts on this subject based on the ideXlab platform.
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sense of community and informal social control among lower income households the role of Homeownership and collective efficacy in reducing subjective neighborhood crime and disorder
American Journal of Community Psychology, 2013Co-Authors: Mark R Lindblad, Kim Manturuk, Roberto G. QuerciaAbstract:We examine the link between Homeownership, collective efficacy, and subjective neighborhood crime and disorder. Although prior research suggests that Homeownership provides social benefits, the housing downturn and foreclosure crisis, coupled with mounting evidence that people self-select into housing, raise questions about the role of Homeownership. We adjust for respondents’ decision to own or rent using a nationwide sample of lower-income households. We account for demographic and neighborhood characteristics as well as ratings of individual efficacy. We present a structural equation model that identifies how sense of community and informal social control jointly contribute to collective efficacy. The latent collective efficacy construct mediates the impact of Homeownership on resident’s perceptions of neighborhood disorder. Such perceptions matter because they have been linked to resident’s physical and mental health. Our findings demonstrate that when coupled with sustainable mortgages, Homeownership exerts a robust yet indirect effect in reducing subjective neighborhood crime and disorder. Our model also links collective efficacy to neighborhood racial homogeneity, a finding which presents challenges for the study of diversity and community. We discuss sense of community research as well as sustainable mortgages and implications of the foreclosure crisis for the future of Homeownership opportunities among lower income households and neighborhoods.
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friends and neighbors Homeownership and social capital among low to moderate income families
Journal of Urban Affairs, 2010Co-Authors: Kim Manturuk, Mark R Lindblad, Roberto G. QuerciaAbstract:ABSTRACT: This research explores whether Homeownership leads to increased individual social capital among low- to moderate-income families. Social capital refers to social resources a person can access through contacts with others in his or her social networks. We theorize that Homeownership can motivate interactions with others in one's neighborhood and therefore build social capital. Using a sample of low- and moderate-income homeowners and a matched sample of renters, we collect data on overall social resources and neighborhood-specific social resources. We find that homeowners have more total social capital resources and more neighborhood social capital resources than renters. Neighborhood group involvement has an indirect effect on social capital, but explains only a small amount of the influence of Homeownership. These findings hold when controlling for household-level and neighborhood-level sociodemographic variables, as well as when using statistical models that account for endogeneity. Based on this evidence, we conclude that Homeownership gives people access to social capital via increased social ties to others. We discuss the implications of this finding for housing policy and suggest new directions for research on social capital.
