Borrowing Constraints and Homeownership | Zendy

Arthur Acolin | Zendy; Jesse Bricker | Zendy; Paul S. Calem | Zendy; Susan M. Wächter | Zendy

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Borrowing Constraints and Homeownership

Author(s) -

Arthur Acolin,

Jesse Bricker,

Paul S. Calem,

Susan M. Wächter

Publication year - 2016

Publication title -

american economic review

Language(s) - English

Resource type - Journals

SCImago Journal Rank - 16.936

H-Index - 297

eISSN - 1944-7981

pISSN - 0002-8282

DOI - 10.1257/aer.p20161084

Subject(s) - economics , financial crisis , percentage point , labour economics , demographic economics , finance , macroeconomics

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.

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