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Source: Journal of Housing Economics

Resulting in 6 citations.

1.	Andrew, Mark Haurin, Donald R. Munasib, Abdul
1.	Explaining the Route to Owner-Occupation: A Transatlantic Comparison Journal of Housing Economics 15,3 (September 2006): 189-216. Also: http://www.sciencedirect.com/science/article/pii/S1051137706000180# Cohort(s): NLSY79 Publisher: Elsevier Keyword(s): British Household Panel Survey (BHPS); Cross-national Analysis; Home Ownership; Income; Modeling, Hazard/Event History/Survival/Duration; Wealth This paper compares the transition of young adults from renting to first-time homeownership in Britain and the U.S. By adopting a common theoretical and methodological framework, we identify behavioural similarities and differences in transitions in the two countries. We find that the higher ownership rates among British young adults are caused by quicker transitions and our study sheds light on which factors contribute to this difference. We use British and U.S. longitudinal data sets for the analysis and a relative risk Cox hazard model in the empirical work. Although there are behavioural similarities in attaining first-time homeownership with regard to the demographic and housing market variables, there are substantial differences in the two populations’ responses to income and wealth, where we find that young adults’ transitions to homeownership in Britain are more responsive.
	Bibliography Citation Andrew, Mark, Donald R. Haurin and Abdul Munasib. "Explaining the Route to Owner-Occupation: A Transatlantic Comparison." Journal of Housing Economics 15,3 (September 2006): 189-216.

2.	Barakova, Irina Calem, Paul S. Wachter, Susan M.
2.	Borrowing Constraints during the Housing Bubble Journal of Housing Economics 24 (June 2014): 4-20. Also: http://www.sciencedirect.com/science/article/pii/S1051137714000023 Cohort(s): NLSY79 Publisher: Elsevier Keyword(s): Credit/Credit Constraint; Debt/Borrowing; Home Ownership; Income; Wealth The impact of borrowing constraints on homeownership has been well established in the literature. Wealth is most likely to restrict homeownership followed by credit and income. Using recent movers from the 1979 National Longitudinal Survey of Youth and borrowing constraint definitions commonly used in the literature, we examine the impact of these constraints on the probability of homeownership during the housing market boom between 2003 and 2007. We show that whereas the pool of financially constrained households expanded, the marginal impact of borrowing constraints associated with income and credit quality declined during this period. The constraint associated with wealth, however, continued to have a negative impact on homeownership status, all else equal. The fact that lending standards became less strict is accepted; however the impact of this on homeownership has not been previously studied. Here we find that less restrictive underwriting does appear to have reduced the impact of income and credit quality on homeownership but the impact of the wealth constraint persists.
	Bibliography Citation Barakova, Irina, Paul S. Calem and Susan M. Wachter. "Borrowing Constraints during the Housing Bubble." Journal of Housing Economics 24 (June 2014): 4-20.

3.	Blau, David M. Haskell, Nancy L. Haurin, Donald R.
3.	Are Housing Characteristics Experienced by Children Associated with their Outcomes as Young Adults? Journal of Housing Economics 46 (December 2019): 101631. Also: https://www.sciencedirect.com/science/article/pii/S1051137717301304 Cohort(s): Children of the NLSY79, NLSY79, NLSY79 Young Adult Publisher: Elsevier Keyword(s): Childhood Residence; Criminal Justice System; Educational Attainment; Housing/Housing Characteristics/Types; Pregnancy, Adolescent; Welfare We study the association between childhood housing characteristics and homeownership and a set of behavioral outcomes of young adults. The primary data set is the National Longitudinal Study of Youth-1979 cohort (NLSY79) and the Child and Young Adult surveys of the children of the female NLSY79 respondents, augmented with a record of the characteristics of dwellings occupied by respondents and their children throughout childhood. We find that living in an owner-occupied home during childhood is positively associated with young adults' educational attainment, and is negatively associated with teen pregnancy, criminal convictions, and the likelihood of being on welfare. In contrast, a measure of residential crowding during childhood has an independent relationship only with youths' criminal convictions. We explore several mechanisms that could explain these long run patterns, including unobserved parental heterogeneity and childhood cognition.
	Bibliography Citation Blau, David M., Nancy L. Haskell and Donald R. Haurin. "Are Housing Characteristics Experienced by Children Associated with their Outcomes as Young Adults?" Journal of Housing Economics 46 (December 2019): 101631.

4.	Calem, Paul S. Firestone, Simon Wachter, Susan M.
4.	Credit Impairment and Housing Tenure Status Journal of Housing Economics 19 (September 2010): 219-232 Cohort(s): NLSY79 Publisher: Academic Press, Inc. Keyword(s): Credit/Credit Constraint; Debt/Borrowing; Home Ownership We revisit the relationship between financing constraints and homeownership rates using the 2004 wave of the 1979 National Longitudinal Survey of Youth. The survey respondents are a nationally representative sample of Americans 39-47 years of age as of this wave. As most of the sample had been in their current residence prior to 2004, this study reflects housing tenure status decisions made prior to the recent credit expansion and subsequent crisis. Past research has emphasized wealth constraints, and income constraints as limiting homeownership. The estimation results here point to primary roles for credit impairment and lack of credit history. We also find that excluding controls for the endogeneity of wealth and income may mask the impact of credit factors.
	Bibliography Citation Calem, Paul S., Simon Firestone and Susan M. Wachter. "Credit Impairment and Housing Tenure Status." Journal of Housing Economics 19 (September 2010): 219-232.

5.	Cooper, Daniel H. Luengo-Prado, Maria Jose
5.	Household Formation over Time: Evidence from Two Cohorts of Young Adults Journal of Housing Economics 41 (September 2018): 106-123. Also: https://www.sciencedirect.com/science/article/pii/S1051137717303108 Cohort(s): NLSY79, NLSY97 Publisher: Elsevier Keyword(s): Household Composition; Parenting Skills/Styles; Residence, Return to Parental Home/Delayed Homeleaving This paper examines how various demographic and economic factors impact household formation both within and across cohorts. The results show substantial differences in the share of young adults living with their parents over time. Differences in demographics, housing costs, and business-cycle conditions can explain as much as 70 percent of the difference in household-formation rates across cohorts, a result driven in large part by increased sensitivity of young adults' household-formation decisions to economic conditions. Changes in parenting styles and shifting social norms likely also play roles.
	Bibliography Citation Cooper, Daniel H. and Maria Jose Luengo-Prado. "Household Formation over Time: Evidence from Two Cohorts of Young Adults." Journal of Housing Economics 41 (September 2018): 106-123.

6.	Goodman, John L. Jr. Nichols, Joseph B.
6.	Does FHA Increase Home Ownership or Just Accelerate It? Journal of Housing Economics 6,2 (June 1997): 184-202. Also: http://www.idealibrary.com/links/artid/jhec.1997.0208 Cohort(s): NLSY79 Publisher: Academic Press, Inc. Keyword(s): Home Ownership; Panel Study of Income Dynamics (PSID) Qualification standards in the main home mortgage insurance program administered by the Federal Housing Administration (FHA) are less stringent than the standards set by conventional lenders. However, households that qualify only for FHA financing of a modestly priced home in a given year are a narrow financial stratum of the population. The paper uses data from two longitudinal surveys (PSID NLSY) to document that membership in that stratum changes frequently. Most of the "FHA only" qualifiers graduate to conventional qualification within a few years. The study also shows that most renters wait years to purchase once they have first qualified. The paper concludes that, to the extent that FHA has any influence on home ownership, it is mostly to accelerate home purchase, not to enable it among households that otherwise would never be able to buy.
	Bibliography Citation Goodman, John L. Jr. and Joseph B. Nichols. "Does FHA Increase Home Ownership or Just Accelerate It?" Journal of Housing Economics 6,2 (June 1997): 184-202.

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