Achieving the American Dream? A Longitudinal Analysis of the Homeownership Experiences of Low-Income Families

Author: Carolina Katz Reid

Dissertation School: University of Washington

Pages: 281

Publication Date: June 2004

Availability:
Available from the HUD USER Helpdesk P.O. Box 23268 Washington, DC 20026-3268 Toll Free: 1-800-245-2691 Fax: 1-202-708-9981 Email: oup@oup.org

Access Number: 10788

Abstract:

The goal of this research project is to increase our understanding of the homeownership experiences of low-income families. HUD has made a commitment to increasing the nation's homeownership rate, as well as increasing homeownership among low-income and minority families. However, we know comparatively little about the experiences of low-income homeowners and the extent to which homeownership contributes to their economic and social success. Is homeownership a route into greater financial stability and opportunity? Or does homeownership place low-income households in a position of greater risk as a result of high mortgage payments (especially for workers with low job security) and/or spatial isolation (for example, by restricting the household's mobility or by confining the family to a neighborhood with fewer services)?

My research address three sets of questions:

• Who among low-income families is moving into homeownership? What are the primary determinants of low-income homeownership? What factors or attributes are important in increasing the likelihood that a low-income family is able to purchase its own home compared to other low-income families?
• Where are low-income families buying homes? How does the local geographic context shape the homeowner experience for low-income families? What percent of low-income families buy homes in census tracts with higher median incomes than the tract of origin?
• What happens to low-income families after they buy their first home? Are they financially more secure? Do they move up the "housing ladder" over time?

I intend to address these questions both qualitatively and quantitatively. The quantitative component will use the Panel Survey on Income Dynamics (PSID) and will situate these questions in a longitudinal context using event-history analysis. The qualitative component will entail 75 indepth interviews with low-income families who have bought a home in the past two years in Seattle, Washington.

My research will thus explore the multiple routes through which low-income families become homeowners and the ways in which owning a home affects their economic and social well-being. These are important questions if our ultimate goal is to reduce urban poverty and social stratification in the housing market.

Back to Search Result of DDRG Dissertations