What drives the racial housing wealth gap for older homeowners?

Liu, Siyan, and Laura D. Quinby. “What drives the racial housing wealth gap for older homeowners?”. Issue in Brief 23-7, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, March 2023. http://hdl.handle.net/2345/bc-ir:109761.
PREVIEW Datastream
PDF

Abstract

The brief's key findings are: (1) Black homeowners have less housing wealth than White homeowners. This study explores the reasons for the wealth gap at age 55. (2) Black homeowners faced obstacles at every step -- from accumulating a down payment to buying in attractive areas to accessing credit to upsize. (3) The analysis compares similar Black and White households to see what share of the wealth gap is due to the early hurdles vs. slower appreciation. (4) The results show that both factors -- smaller down payments and slower growth in home values -- were equally important contributors to the gap.

Title
What drives the racial housing wealth gap for older homeowners?
Author
Liu, Siyan
Quinby, Laura D.
Center
Center for Retirement Research
Genre
report
Date Issued
March 2023
Publisher
Center for Retirement Research at Boston College
Series Title
Issue in Brief
Series Number
23-7
Persistent Link
http://hdl.handle.net/2345/bc-ir:109761
Use Restrictions
These materials are made available for use in research, teaching and private study, pursuant to U.S. Copyright Law. The user must assume full responsibility for any use of the materials, including but not limited to, infringement of copyright and publication rights of reproduced materials. Any materials used for academic research or otherwise should be fully credited with the source. The publisher or original authors may retain copyright to the materials.
Subject
Racial Disparities
Financing Retirement

My Bookmarks

Bookmarks: