Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/69364
Authors: 
Mundra, Kusum
Year of Publication: 
2013
Series/Report no.: 
Discussion Paper Series, Forschungsinstitut zur Zukunft der Arbeit 7131
Abstract: 
Using data from the 2009 American Housing Survey and Hazard Model, this paper provides empirical evidence that the homeownership experience during the recent housing boom and housing bust was not homogenous across all groups in the U.S. The recent deterioration of underwriting practices and a boom in mortgage lending did not benefit minorities and immigrant homeownership in the U.S. Blacks experienced significantly lower increase in homeownership than the whites but highest exit from homeownership particularly if they obtained the mortgage during subprime boom period from 2004 - 2006. Hispanics, on the other hand, did not experience significant increase in homeownership and neither did they face a higher exit from homeownership compared to whites. However, Hispanic immigrants were worse off in the recent housing market than Hispanic natives. Immigrants were worse off in the recent housing market than the natives, but naturalized immigrants fared better than the non-naturalized immigrants.
Subjects: 
homeownership
exit
subprime
minorities
immigrants
citizenship
hazard model
JEL: 
J15
J11
R21
Document Type: 
Working Paper

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