Income Rich and Asset Poor: A Multilevel Analysis of Racial and Ethnic Differences in Housing Values among Baby Boomers

Income Rich and Asset Poor: A Multilevel Analysis of Racial and Ethnic Differences in Housing... Race and ethnicity, as well as cohort status are strong predictors of asset ownership including home ownership and housing values. Yet, seldom have the two concepts been linked. Additionally, potentially important determinants such as business income have often times been excluded from the analyses despite findings suggesting that business income may be an important indicator for racial and ethnic minorities who would otherwise be relegated to employment in low status jobs in the secondary labor market. Using the most recent data from the Integrated Public Use Microdata Sample, this study examines: (1) How Asian, Black, Hispanic and white baby boomers compare in terms of housing values; and (2) What role business income and interest, dividends and rental income have on housing values for Asian, Black, Hispanic and white baby boomers. Significant racial and ethnic differences in housing values exist, and business income and interest, dividends and rental income are all significant indicators of housing values for all groups. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Population Research and Policy Review Springer Journals

Income Rich and Asset Poor: A Multilevel Analysis of Racial and Ethnic Differences in Housing Values among Baby Boomers

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Publisher
Kluwer Academic Publishers
Copyright
Copyright © 2003 by Kluwer Academic Publishers
Subject
Social Sciences; Demography; Sociology, general; Population Economics
ISSN
0167-5923
eISSN
1573-7829
D.O.I.
10.1023/A:1023555732194
Publisher site
See Article on Publisher Site

Abstract

Race and ethnicity, as well as cohort status are strong predictors of asset ownership including home ownership and housing values. Yet, seldom have the two concepts been linked. Additionally, potentially important determinants such as business income have often times been excluded from the analyses despite findings suggesting that business income may be an important indicator for racial and ethnic minorities who would otherwise be relegated to employment in low status jobs in the secondary labor market. Using the most recent data from the Integrated Public Use Microdata Sample, this study examines: (1) How Asian, Black, Hispanic and white baby boomers compare in terms of housing values; and (2) What role business income and interest, dividends and rental income have on housing values for Asian, Black, Hispanic and white baby boomers. Significant racial and ethnic differences in housing values exist, and business income and interest, dividends and rental income are all significant indicators of housing values for all groups.

Journal

Population Research and Policy ReviewSpringer Journals

Published: Oct 17, 2004

References

  • Family demography, social theory, and investment in social capital
    Astone, N. M.; Nathanson, C.; Schoen, R.; Young, K.

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