Borrowing Constraints and Homeownership

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 homeown...

Full description

Saved in:
Bibliographic Details
Published in:The American economic review 2016-05, Vol.106 (5), p.625-629
Main Authors: Acolin, Arthur, Bricker, Jesse, Calem, Paul, Wachter, Susan
Format: Article
Language:English
Subjects:
Adverse selection
Analysis
Borrowing
Central banks
Credit
Credit risk
Credit scoring
Economic crisis
Economic theory
Federal Reserve monetary policy
Home ownership
Homeowners
HOMEOWNERSHIPAND THE AMERICAN DREAM
Households
Houses
Housing
Housing prices
Interest rates
Market shares
Moral hazard
Mortgages
Rationing
Regulation Q
Studies
Subprime lending
World War II
Citations: Items that this one cites
Items that cite this one
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary: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.
ISSN:0002-8282
1944-7981
DOI:10.1257/aer.p20161084