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?”. CRR WP 2023-03, Chestnut Hill, Mass.: Center for Retirement Research at Boston College, March 2023. http://hdl.handle.net/2345/bc-ir:109777.
PREVIEW Datastream
PDF

Abstract

Housing wealth is an important resource for economic security in retirement. Yet, Black households approaching retirement have only a fraction of the housing wealth held by White households. One reason is that Black households are less likely to own homes in the first place. A second reason, which is the focus of this paper, is that when they do own homes, they see lower wealth accumulation than White homeowners. This study uses the Panel Study of Income Dynamics to determine what share of the age-55 housing wealth gap is due to disadvantage at the time of first purchase and what share is due to slower appreciation of subsequent housing wealth.

Title
What drives the racial housing wealth gap for older homeowners?
Author
Liu, Siyan
Quinby, Laura D.
Center
Center for Retirement Research
Genre
working paper
Date Issued
March 2023
Publisher
Center for Retirement Research at Boston College
Series Title
CRR WP
Series Number
2023-03
Persistent Link
http://hdl.handle.net/2345/bc-ir:109777
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: