Measuring the Benefits of Homeowning: Effects on Children Redux

42 Pages Posted: 5 Nov 2012

See all articles by Richard K. Green

Richard K. Green

University of Southern California - Lusk Center for Real Estate

Gary Painter

University of Southern California - Sol Price School of Public Policy

Michelle J. White

University of California, San Diego (UCSD) - Department of Economics; National Bureau of Economic Research (NBER)

Date Written: November 5, 2012

Abstract

We find that children of homeowners have better outcomes than children of renters whether their parents make a large or small initial investment in their home, as long as they make a minimal down payment when they buy their homes. Children with parents who made no down payment have similar outcomes to children of renters. The effect of homeownership holds up under myriad specifications, measuring initial housing investment as either an LTV ratio or a down payment dollar amount, and controlling for parent and family characteristics and geographic and year fixed effects.

Keywords: Homeownership, Child Outcomes

Suggested Citation

Green, Richard K. and Painter, Gary and White, Michelle J., Measuring the Benefits of Homeowning: Effects on Children Redux (November 5, 2012). Research Institute for Housing America Research Paper No. 12-01. Available at SSRN: https://ssrn.com/abstract=2171327

Richard K. Green (Contact Author)

University of Southern California - Lusk Center for Real Estate ( email )

2250 Alcazar Street
Los Angeles, CA 90089
United States

Gary Painter

University of Southern California - Sol Price School of Public Policy ( email )

Los Angeles, CA 90089-0626
United States
213-740-8754 (Phone)
213-740-0001 (Fax)

Michelle J. White

University of California, San Diego (UCSD) - Department of Economics ( email )

9500 Gilman Drive
La Jolla, CA 92093-0508
United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue
Cambridge, MA 02138
United States

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