The Homeownership Experience of Minorities During the Great Recession

Garriga, Carlos; Ricketts, Lowell R.; Schlagenhauf, Don E.

doi:10.20955/r.2017.139-67

Cited by 1 publication

(2 citation statements)

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“…Nonetheless, distinct baby boomer subgroups display important differences in their homeownership trajectories. In line with research on disparities by race (Garriga, Ricketts, and Schlagenhauf 2017;Grinstein-Weiss, Key, and Carrillo 2015), Black baby boomers are more likely to belong to the consistent nonowner and late owner trajectories. A higher likelihood of belonging to the consistent and late owner trajectories among the higher educated also supports existing findings (Hirschl and Rank 2010).…”

Section: Discussionsupporting

confidence: 62%

“…Moreover, they did not investigate how homeownership patterns differ by key sociodemographic factors. Homeownership is conditioned by many social forces including race (Garriga, Ricketts, and Schlagenhauf 2017;Grinstein-Weiss, Key, and Carrillo 2015) and education (Hirschl and Rank 2010) among others. Therefore, attention to the distribution of long-duration homeownership patterns along these characteristics is warranted.…”

Section: Introductionmentioning

confidence: 99%

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US baby boomers’ homeownership trajectories across the life course: A Sequence Analysis approach

Shiffer-Sebba¹,

Park²

2021

DemRes

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BACKGROUNDExtensive homeownership research examines rates, transitions, and timing, over short and medium time spans. However, little is known about long-term homeownership patterns over the life course. OBJECTIVEWe document population-level homeownership rates, transitions, and durations over a 26-year time span between ages 25-50 and categorize US baby boomers born between 1945-1964 into discrete trajectories, characterizing their homeownership experiences over the life course. Finally, we examine who is likely to experience each trajectory using key sociodemographic characteristics. METHODSUsing an analytic sample of 4,246 individuals from the Panel Study of Income Dynamics (PSID), we first examine descriptive homeownership statistics over a long duration. Then, we use Sequence Analysis to categorize the population into homeownership clusters. Finally, we employ multinomial logistic regression to predict cluster membership. RESULTSAfter demonstrating that race and education stratify baby boomer homeownership experiences over the life course, we find that three homeownership trajectories characterize the population: consistent owners (47%), consistent nonowners (25%), and late owners (27%). We further find that race, education, and to a lesser degree gender meaningfully predict one's homeownership trajectory. Being Black is the only characteristic for which consistent nonownership is more likely than consistent ownership. Not attending college is the only other characteristic for which late ownership is not more likely than consistent nonownership. 1058 https://www.demographic-research.org CONTRIBUTIONConceptualizing and measuring homeownership as a life course phenomenon over the long term, our study suggests considerable stability of homeownership with experiences shaped by key sociodemographic characteristics.

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Section: Discussionsupporting

confidence: 62%