Racial Differences in Home Ownership and Home Equity Among Preretirement-Aged Households

TitleRacial Differences in Home Ownership and Home Equity Among Preretirement-Aged Households
Publication TypeJournal Article
Year of Publication1996
AuthorsMyers, Jr., SL, Chung, C
JournalThe Gerontologist
Call Numberpubs_1996_Myers_SGer.pdf
KeywordsHealth Conditions and Status, Housing, Net Worth and Assets, Risk Taking

The article seeks to determine the extent of unexplained racial residual in home ownership and home equity that could possibly be explained by discrimination on the part of lenders or other institutions. While many factors differ substantially between black and white households- besides family income, none of these factors can explain much of the overall inequality in home equity. Although there are sizable income disparities that lead to lower home ownership rates among blacks, these alone are only sufficient in explaining about a quarter of the gap in expected home equity between blacks and whites. This means that the remaining portion of unexplained racial gaps is large and appears to support the hypothesis that the underlying cause of racial differences in expected home equity rests with the behavior of lenders and creditors.

Endnote Keywords

Economic Status--net worth, financial planning/Housing/Attitudes Toward Risk/Health Status--cognitive skills

Endnote ID


Citation Key6556