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Homeownership and financial strain following the collapse of the housing market: A comparative study on loan delinquencies between black and white households

Title
Homeownership and financial strain following the collapse of the housing market: A comparative study on loan delinquencies between black and white households
Authors
Bieker R.F.Yuh Y.
Ewha Authors
여윤경
SCOPUS Author ID
여윤경scopus
Issue Date
2015
Journal Title
Journal of Financial Counseling and Planning
ISSN
1052-3073JCR Link
Citation
vol. 26, no. 1, pp. 79 - 93
Keywords
Collapse of U.S. housing marketFinancial strainHomeownershipRaceSurvey of Consumer Finances
Publisher
Association for Financial Counseling and Planning Education
Indexed
SCOPUS scopus
Abstract
The objectives of this study were to evaluate the extent to which homeownership contributed to household financial strain as measured by loan delinquency after the onset of the recent housing market crash, and to examine if the impact of homeownership on household financial strain differed for Black and White households. Using data from the 2010 Survey of Consumer Finances, we found that, after controlling for other factors, a household’s housing preferences had a potential effect on the likelihood of experiencing financial strain following the collapse of residential housing prices. In addition, Black homeowners were more likely to have experienced financial strain following the housing collapse than were White homeowners, regardless of the time period in which the home was purchased. The implications of the findings for public policy, personal financial planning and education, and further research are presented. © 2015 Association for Financial Counseling and Planning Education®.
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경영대학 > 경영학전공 > Journal papers
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