New study examines whether gap for older homeowners due to low down payments or slower appreciation.
Houses are very important. For most families, their house is the single largest asset outside the benefits promised from Social Security. The problem is that Black families are less likely to own homes and, when they do, they see lower wealth accumulation compared with white homeowners.
The study uses the Panel Study of Income Dynamics to look at the experience of Black and white households who buy their first home between 1980-2000 and follows them through 2019, limiting the sample to those who are still homeowners at age 55. The goal is to compare Black and white homeowners who, based on their own socioeconomic characteristics, might seem equally well situated to accumulate housing wealth.
To understand the drivers of this gap, the authors begin by comparing the down payments for Black households and their otherwise-similar white counterparts. It turns out that the down payments of Black home buyers, who are less likely to receive assistance from parents, are only 67% of those of whites . As a result, Black households are constrained to buying less expensive first homes than white households.
Brasil Últimas Notícias, Brasil Manchetes
Similar News:Você também pode ler notícias semelhantes a esta que coletamos de outras fontes de notícias.
New Funding, New Era, New Stages for the Millennium Youth Entertainment ComplexThe Eastside's Millennium Youth Entertainment Complex enters a new era as one of the first sites to benefit from Austin’s Cultural Trust.
Consulte Mais informação »
Alaska Black Caucus bringing awareness to suicide among Black veterans in AlaskaTo draw attention to the issue of suicide among veterans, the Alaska Black Caucus discussed mental health issues among Black veterans in one of its weekly community conversations.
Consulte Mais informação »
Trailblazing Black Women: Susie Cayton and Elizabeth Flood - New York Amsterdam NewsBiddy Mason, Mary Fields, and Mary Ellen Pleasant are three Black women who are often cited when there is a discussion of such notables in the western parts of the nation.
Consulte Mais informação »
Black, Hispanic investors struggle with faith in crypto - New York Amsterdam NewsThe collapse of two crypto-friendly banks this month, Silvergate Capital Corp. and Signature Bank, caused a setback for crypto companies that relied on the banks to convert digital currencies to U.S. dollars.
Consulte Mais informação »
New US drone routes over Black Sea 'definitely limit' intelligence gathering, says US official | CNN PoliticsThe US decision to fly its surveillance drones further south over the Black Sea after a Russian jet collided with a US drone earlier this month 'definitely limits our ability to gather intelligence' related to the Ukraine war, a senior US military official tells CNN.
Consulte Mais informação »
Rosenberg Black Cowboy Museum names new Cowboy Hall of Fame inducteesMore than 200 people attended the second annual Black Cowboy Museum Hall of Fame...
Consulte Mais informação »