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Racial Segmentation In The US Housing Market.pdf

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🔗 Source: conference.nber.org

📊 Size: 6.02 MB

📄 Pages: 72 pages

⬇️ Downloads: 85

Summary

In 1960, Black households were 20 percentage points less likely to own a house, had lower house values, and spent less on rental expenditures compared to White households with the same income. By 2019, the rent and price gaps had declined by about half, but the gap in ownership rates remained unchanged. The paper estimates a dynamic equilibrium model of the housing market, allowing for market segmentation by race, and finds that Black households pay higher quality-adjusted rents and prices, especially at higher qualities, causing them to sort into lower quality homes. Relative to an integrated market, the average Black household was 5% worse off in 1960 and 1% worse off in 2019 in terms of lifetime consumption-equivalent welfare.

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Description

In 1960, Black households were 20 percentage points less likely to own a house, had lower house values, and spent less on rental expenditures compared to White...

Technical Information

File Format: PDF
File Size: 6.02 MB
Pages: 72
Language: EN
Total Downloads: 85
Last Updated: 2 months ago

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