Borrowing Constraints and Homeownership-Reference-Cited by-同舟云学术

Borrowing Constraints and Homeownership

Published:2016-05-01 Issue:5 Volume:106 Page:625-629
ISSN:0002-8282
Container-title:American Economic Review
language:en
Short-container-title:American Economic Review

Author:

Acolin Arthur¹,Bricker Jesse²,Calem Paul³,Wachter Susan⁴

Affiliation:

1. University of Southern California, 650 Childs Way, Los Angeles, CA 90089 (e-mail: )

2. Board of Governors of the Federal Reserve System, 20th and C Street, NW, Washington, DC 20551 (e-mail: )

3. Federal Reserve Bank of Philadelphia, 10 Independence Mall, Philadelphia, PA 19106 (e-mail: )

4. University of Pennsylvania, 430 Vance Hall, 3733 Spruce St., Philadelphia, PA 19104 (e-mail: )

Abstract

This paper identifies the impact of borrowing constraints on homeownership in the U.S. in the aftermath of the 2008 financial crisis. While homeownership declines and tightened credit are evident, the role the tightening of credit has had on the probability of individual households to become homeowners has not been previously identified. The homeownership rate in 2010-2013 is estimated to be 2.3 percentage points lower than if the constraints were set at the 2001 level.

Publisher

American Economic Association

Subject

Economics and Econometrics

Link

https://pubs.aeaweb.org/doi/pdf/10.1257/aer.p20161084

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