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Title: Credit Impairment and Housing Tenure Status
Resulting in 1 citation.
1. Calem, Paul S.
Firestone, Simon
Wachter, Susan M.
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.