Borrowing Constraints and the Tenure Choice of Young Households

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ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Borrowing Constraints and the Tenure Choice of Young Households by : Donald R. Haurin

Download or read book Borrowing Constraints and the Tenure Choice of Young Households written by Donald R. Haurin and published by . This book was released on 2012 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we analyze the factors that affect the tenure choice of young adults, highlighting the impact of mortgage lender imposed borrowing constraints. The data set is a panel of youth age 20-33 for the years 1985-90. Our methods differ from most prior studies in many ways including consideration of possible sample selection bias, a richer model of the stochastic error structure, better measurement of which households are bound by borrowing constraints, and a fuller consideration of the endogeneity of wealth and income. Once all changes are implemented, we find ownership tendencies to be quite sensitive to economic variables. Specifically, potential earnings, the relative cost of owning a home, and especially borrowing constraints affect the tendency to own a home. In our sample of youth, 37% of households are constrained even after choosing their loan-to-value ratio to minimize the impact of the separate wealth and income requirements. The constraints reduce the probability of ownership of these households by 10 to 20 percentage points (a third to a half) depending on the particular characteristics of the household.

Borrowing Constraints and the Tenure Choice of Young Households

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (124 download)

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Book Synopsis Borrowing Constraints and the Tenure Choice of Young Households by :

Download or read book Borrowing Constraints and the Tenure Choice of Young Households written by and published by . This book was released on 1996 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

The Savings Behavior, Borrowing Constraints, and Tenure Choice of Young Households

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ISBN 13 :
Total Pages : 44 pages
Book Rating : 4.:/5 (791 download)

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Book Synopsis The Savings Behavior, Borrowing Constraints, and Tenure Choice of Young Households by : Donald R. Haurin

Download or read book The Savings Behavior, Borrowing Constraints, and Tenure Choice of Young Households written by Donald R. Haurin and published by . This book was released on 1996 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Endogenous Mortgage Choice, Borrowing Constraints and the Tenure Decision

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Publisher :
ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (324 download)

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Book Synopsis Endogenous Mortgage Choice, Borrowing Constraints and the Tenure Decision by : William C. LaFayette

Download or read book Endogenous Mortgage Choice, Borrowing Constraints and the Tenure Decision written by William C. LaFayette and published by . This book was released on 1995 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: Earlier research has shown that lender income and wealth constraint ratios discourage homeownership. This empirical research has been based on home purchasers using an 80 percent loan-to-value (LTV) fixed-rate conventional loan. Employing the same assumption, we find that the constraints lowered the ownership rate of our 1919 young home purchasers by about 20 percentage points. However, households are not restricted to putting 20 percent down and choosing a fixed- rate loan. When we allow households to select the optimal LTV and mortgage type (adjustable or fixed-rate with Federal Housing Administration (FHA) or conventional insurance), the percentage of our sample that is credit constrained declines from 71 to 49. Moreover, the measured impact on the homeownership rate of the constraints falls to only 4 percentage points. Further, FHA loans are estimated to increase homeownership by only 0.1 to 0.2 percentage points

Borrowing Constraints and the Tenure of Young Households

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ISBN 13 :
Total Pages : 23 pages
Book Rating : 4.:/5 (99 download)

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Book Synopsis Borrowing Constraints and the Tenure of Young Households by : Donald R. Haurin

Download or read book Borrowing Constraints and the Tenure of Young Households written by Donald R. Haurin and published by . This book was released on 1996 with total page 23 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Endogenous Mortgage Choice, Borrowing Constraints and the Tenure Decision

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Publisher :
ISBN 13 :
Total Pages : 36 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Endogenous Mortgage Choice, Borrowing Constraints and the Tenure Decision by : William C. LaFayette

Download or read book Endogenous Mortgage Choice, Borrowing Constraints and the Tenure Decision written by William C. LaFayette and published by . This book was released on 2008 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt: Earlier research has shown that lender income and wealth constraint ratios discourage homeownership. This empirical research has been based on home purchasers using an 80 percent loan-to-value (LTV) fixed-rate conventional loan. Employing the same assumption, we find that the constraints lowered the ownership rate of our 1919 young home purchasers by about 20 percentage points. However, households are not restricted to putting 20 percent down and choosing a fixed- rate loan. When we allow households to select the optimal LTV and mortgage type (adjustable or fixed-rate with Federal Housing Administration (FHA) or conventional insurance), the percentage of our sample that is credit constrained declines from 71 to 49. Moreover, the measured impact on the homeownership rate of the constraints falls to only 4 percentage points. Further, FHA loans are estimated to increase homeownership by only 0.1 to 0.2 percentage points.

Borrowing Constraints, Home Ownership and Housing Choice

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ISBN 13 :
Total Pages : 70 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Borrowing Constraints, Home Ownership and Housing Choice by : Kristian Blickle

Download or read book Borrowing Constraints, Home Ownership and Housing Choice written by Kristian Blickle and published by . This book was released on 2018 with total page 70 pages. Available in PDF, EPUB and Kindle. Book excerpt: We study the impact of borrowing constraints on home ownership and housing demand by comparing the tenure choice and housing quality of consumers who receive intra-family wealth transfers to those that do not. Our analysis is based on household-level panel data providing information on the receipt of wealth transfers, changes in tenure status as well as changes in the size and quality of housing. On average we find that the receipt of a wealth transfer increases the propensity of consumers to transition from renters to home-owners by 6-8 percentage points (35% of the sample mean). Additional analyses suggest that this effect is unlikely to be driven by wealth effects and thus can be attributed to the relaxation of borrowing constraints. By contrast, wealth transfers do not increase the likelihood that existing homeowners “trade-up” to larger homes in better locations.

Credit Impairment and Housing Tenure Choice

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ISBN 13 :
Total Pages : 43 pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Credit Impairment and Housing Tenure Choice by : Paul S. Calem

Download or read book Credit Impairment and Housing Tenure Choice written by Paul S. Calem and published by . This book was released on 2012 with total page 43 pages. Available in PDF, EPUB and Kindle. Book excerpt: We analyze the relationship between underwriting standards and low-income homeownership rates using the 1979 National Longitudinal Survey of Youth. The survey respondents are a nationally representative sample of Americans mostly 40-48 years of age as of the most recent wave of the survey in 2004. Past research has identified credit impairment, wealth constraints, and income constraints as finance-related barriers to homeownership. Using a model of tenure choice, we find that absent all three constraints, the homeownership rate of low-income households in our sample would increase from 52.5 to 59.3 percent. Approximately half of this differential is attributable to households with impaired credit and those with 'thin-file status,' the lack of a substantial credit history.

Borrowing Constraints During the Housing Bubble

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ISBN 13 :
Total Pages : 29 pages
Book Rating : 4.:/5 (13 download)

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Book Synopsis Borrowing Constraints During the Housing Bubble by : Irina Barakova

Download or read book Borrowing Constraints During the Housing Bubble written by Irina Barakova and published by . This book was released on 2013 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt: The impact of borrowing constraints on homeownership has been well established in the literature. Wealth is most likely to restrict homeownership followed by credit and income. Using recent movers from the 1979 National Longitudinal Survey of Youth and borrowing constraint definitions commonly used in the literature, we examine the impact of these constraints on the probability of homeownership during the housing market boom between 2003 and 2007. We show that whereas the pool of financially constrained households expanded, the marginal impact of borrowing constraints associated with income and credit quality declined during this period. The constraint associated with wealth, however, continued to have a negative impact on homeownership status, all else equal. The fact that lending standards became less strict is accepted; however the impact of this on homeownership has not been previously studied. Here we find that less restrictive underwriting does appear to have reduced the impact of income and credit quality on homeownership but the impact of the wealth constraint persists.

Working Paper Series

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ISBN 13 :
Total Pages : 504 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis Working Paper Series by :

Download or read book Working Paper Series written by and published by . This book was released on 1996 with total page 504 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Rental Choice and Housing Policy Realignment in Transition

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Publisher : World Bank Publications
ISBN 13 :
Total Pages : 109 pages
Book Rating : 4./5 ( download)

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Book Synopsis Rental Choice and Housing Policy Realignment in Transition by : Hans-Joachim Dübel

Download or read book Rental Choice and Housing Policy Realignment in Transition written by Hans-Joachim Dübel and published by World Bank Publications. This book was released on 2006 with total page 109 pages. Available in PDF, EPUB and Kindle. Book excerpt: Massive privatizations of housing in Europe and Central Asia transition countries have significantly reduced rental tenure choice, threatening to impede residential mobility. Policymakers are intensifying their search for adequate policy responses aimed at broadening tenure choice for more household categories through effective rental housing alternatives in the social and private sectors. While the social alternative requires substantial and well-balanced subsidies, the private alternative will not grow unless rent, management, and tax reforms are boldly implemented and housing privatization truly completed.

Low-Income Homeownership

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Publisher : Brookings Institution Press
ISBN 13 : 9780815706038
Total Pages : 524 pages
Book Rating : 4.7/5 (6 download)

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Book Synopsis Low-Income Homeownership by : Nicolas P. Retsinas

Download or read book Low-Income Homeownership written by Nicolas P. Retsinas and published by Brookings Institution Press. This book was released on 2004-05-28 with total page 524 pages. Available in PDF, EPUB and Kindle. Book excerpt: A Brookings Institution Press and Harvard University Joint Center for Housing Studies publication A generation ago little attention was focused on low-income homeownership. Today homeownership rates among under-served groups, including low-income households and minorities, have risen to record levels. These groups are no longer at the margin of the housing market; they have benefited from more flexible underwriting standards and greater access to credit. However, there is still a racial/ethnic gap and the homeownership rates of minority and low-income households are still well below the national average. This volume gathers the observations of housing experts on low-income homeownership and its effects on households and communities. The book is divided into five chapters which focus on the following subjects: homeownership trends in the 1990s; overcoming borrower constraints; financial returns to low-income homeowners; low-income loan performance; and the socioeconomic impact of homeownership.

Journal of Housing Research

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Publisher :
ISBN 13 :
Total Pages : 1430 pages
Book Rating : 4.:/5 (334 download)

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Book Synopsis Journal of Housing Research by :

Download or read book Journal of Housing Research written by and published by . This book was released on 2006 with total page 1430 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Borrowing Constraints

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ISBN 13 :
Total Pages : 115 pages
Book Rating : 4.:/5 (19 download)

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Book Synopsis Borrowing Constraints by : Nandini Chatterjee

Download or read book Borrowing Constraints written by Nandini Chatterjee and published by . This book was released on 2004 with total page 115 pages. Available in PDF, EPUB and Kindle. Book excerpt:

International Encyclopedia of Housing and Home

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Publisher : Elsevier
ISBN 13 : 0080471714
Total Pages : 3870 pages
Book Rating : 4.0/5 (84 download)

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Book Synopsis International Encyclopedia of Housing and Home by :

Download or read book International Encyclopedia of Housing and Home written by and published by Elsevier. This book was released on 2012-10-09 with total page 3870 pages. Available in PDF, EPUB and Kindle. Book excerpt: Available online via SciVerse ScienceDirect, or in print for a limited time only, The International Encyclopedia of Housing and Home, Seven Volume Set is the first international reference work for housing scholars and professionals, that uses studies in economics and finance, psychology, social policy, sociology, anthropology, geography, architecture, law, and other disciplines to create an international portrait of housing in all its facets: from meanings of home at the microscale, to impacts on macro-economy. This comprehensive work is edited by distinguished housing expert Susan J. Smith, together with Marja Elsinga, Ong Seow Eng, Lorna Fox O'Mahony and Susan Wachter, and a multi-disciplinary editorial team of 20 world-class scholars in all. Working at the cutting edge of their subject, liaising with an expert editorial advisory board, and engaging with policy-makers and professionals, the editors have worked for almost five years to secure the quality, reach, relevance and coherence of this work. A broad and inclusive table of contents signals (or tesitifes to) detailed investigation of historical and theoretical material as well as in-depth analysis of current issues. This seven-volume set contains over 500 entries, listed alphabetically, but grouped into seven thematic sections including methods and approaches; economics and finance; environments; home and homelessness; institutions; policy; and welfare and well-being. Housing professionals, both academics and practitioners, will find The International Encyclopedia of Housing and Home useful for teaching, discovery, and research needs. International in scope, engaging with trends in every world region The editorial board and contributors are drawn from a wide constituency, collating expertise from academics, policy makers, professionals and practitioners, and from every key center for housing research Every entry stands alone on its merits and is accessed alphabetically, yet each is fully cross-referenced, and attached to one of seven thematic categories whose ‘wholes' far exceed the sum of their parts

Borrowing Constraints, Household Debt, and Racial Discrimination in Loan Markets

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ISBN 13 :
Total Pages : pages
Book Rating : 4.:/5 (129 download)

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Book Synopsis Borrowing Constraints, Household Debt, and Racial Discrimination in Loan Markets by : John V. Duca

Download or read book Borrowing Constraints, Household Debt, and Racial Discrimination in Loan Markets written by John V. Duca and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Two-step selection methods are applied to the 1983 Survey of Consumer Finances to examine the extent to which borrowing constraints restrict household access to debt and the manner in which lenders vary debt limits across borrowers. Results indicate that 30 percent of young families are credit constrained, and that roughly half of these families would hold at least $12,000 (1982 dollars) more debt if borrowing constraints were relaxed. Debt limits increase with income and wealth, and are relaxed for families with a good credit history. In addition, minorities face tighter debt limits and are more likely to be credit constrained than white families.

106-1 Hearing: Nominations Of: Gregory A. Baer and Susan M. Wachter, S. Hrg. 106-805, November 5, 1999

Download 106-1 Hearing: Nominations Of: Gregory A. Baer and Susan M. Wachter, S. Hrg. 106-805, November 5, 1999 PDF Online Free

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ISBN 13 :
Total Pages : 46 pages
Book Rating : 4.F/5 ( download)

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Book Synopsis 106-1 Hearing: Nominations Of: Gregory A. Baer and Susan M. Wachter, S. Hrg. 106-805, November 5, 1999 by :

Download or read book 106-1 Hearing: Nominations Of: Gregory A. Baer and Susan M. Wachter, S. Hrg. 106-805, November 5, 1999 written by and published by . This book was released on 2001 with total page 46 pages. Available in PDF, EPUB and Kindle. Book excerpt: