How Do Mortgage Subsidies Affect Home Ownership? Evidence from the Mid-century GI Bills
The largest 20th-century increase in U.S. home ownership occurred between 1940 and 1960, associated largely with declining age at first ownership. I shed light on the contribution of coincident government mortgage market interventions by examining home loan benefits granted under the World War II an...
Gespeichert in:
| Veröffentlicht in: | NBER Working Paper Series 2011-06, p.17166 |
|---|---|
| 1. Verfasser: | |
| Format: | Artikel |
| Sprache: | eng |
| Schlagworte: | |
| Online-Zugang: | Volltext |
| Tags: |
Tag hinzufügen
Keine Tags, Fügen Sie den ersten Tag hinzu!
|
| container_end_page | |
|---|---|
| container_issue | |
| container_start_page | 17166 |
| container_title | NBER Working Paper Series |
| container_volume | |
| creator | Fetter, Daniel K |
| description | The largest 20th-century increase in U.S. home ownership occurred between 1940 and 1960, associated largely with declining age at first ownership. I shed light on the contribution of coincident government mortgage market interventions by examining home loan benefits granted under the World War II and Korean War GI Bills. The impact of veterans' housing benefits on home ownership is positive for young men, and declines with age. Veterans' benefits increased aggregate home ownership rates primarily by shifting purchase earlier in life, explaining 7.4 percent of the overall 1940-60 increase and 25 percent of the increase for affected cohorts. A rough extrapolation suggests that broader changes in mortgage terms may explain 40 percent of the 1940-60 increase. |
| doi_str_mv | 10.3386/w17166 |
| format | Article |
| fullrecord | <record><control><sourceid>proquest_econi</sourceid><recordid>TN_cdi_proquest_journals_1687837719</recordid><sourceformat>XML</sourceformat><sourcesystem>PC</sourcesystem><nber_id>w17166</nber_id><sourcerecordid>3713873191</sourcerecordid><originalsourceid>FETCH-LOGICAL-e729-3f2cee783ee19ec90ec922d83200bee3fab6c690265b88026b05e4e0b3a1068e3</originalsourceid><addsrcrecordid>eNo90E1PAjEQBuAeNBFRf4CnJp5X-wH9OBlEBBIIB0k8brbdWShZttjuSvj3NlnjYTKXJ-9MXoQeKHnmXImXM5VUiCs0IEqrjGkub9BtjAdCmFKEDtDXwp_xu8drH9pdsQP82ZnoSgcRT6oKbIsX_gh4c24gxL07veLZjyuhsYCr4I-43QNeuzKz0LRduOD5Er-5uo536Loq6gj3f3uIth-z7XSRrTbz5XSyykAynfGKWQCpOADVYDVJw1ipOCPEAPCqMMIKTZgYm_QvE4aMYQTE8IISoYAP0VMfewr-u4PY5gffhSZdzKlQKVhKqpPCvQLrGxfzU3DHIlxySkZCpJ4kS-SxJ42B8A_6-vgv0LthaA</addsrcrecordid><sourcetype>Aggregation Database</sourcetype><iscdi>true</iscdi><recordtype>article</recordtype><pqid>1687837719</pqid></control><display><type>article</type><title>How Do Mortgage Subsidies Affect Home Ownership? Evidence from the Mid-century GI Bills</title><source>National Bureau of Economic Research Publications</source><source>Alma/SFX Local Collection</source><creator>Fetter, Daniel K</creator><creatorcontrib>Fetter, Daniel K</creatorcontrib><description>The largest 20th-century increase in U.S. home ownership occurred between 1940 and 1960, associated largely with declining age at first ownership. I shed light on the contribution of coincident government mortgage market interventions by examining home loan benefits granted under the World War II and Korean War GI Bills. The impact of veterans' housing benefits on home ownership is positive for young men, and declines with age. Veterans' benefits increased aggregate home ownership rates primarily by shifting purchase earlier in life, explaining 7.4 percent of the overall 1940-60 increase and 25 percent of the increase for affected cohorts. A rough extrapolation suggests that broader changes in mortgage terms may explain 40 percent of the 1940-60 increase.</description><identifier>ISSN: 0898-2937</identifier><identifier>DOI: 10.3386/w17166</identifier><language>eng</language><publisher>Cambridge, Mass: National Bureau of Economic Research</publisher><subject>20th century ; Age ; Age groups ; Development of the American Economy ; Economic theory ; Home loans ; Home ownership ; Housing policy ; Korean War ; Military service ; Mortgage insurance ; Mortgages ; Studies ; Subsidies ; Veterans ; World War II</subject><ispartof>NBER Working Paper Series, 2011-06, p.17166</ispartof><rights>Copyright National Bureau of Economic Research, Inc. Jun 2011</rights><woscitedreferencessubscribed>false</woscitedreferencessubscribed></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><link.rule.ids>778,782,27908</link.rule.ids></links><search><creatorcontrib>Fetter, Daniel K</creatorcontrib><title>How Do Mortgage Subsidies Affect Home Ownership? Evidence from the Mid-century GI Bills</title><title>NBER Working Paper Series</title><description>The largest 20th-century increase in U.S. home ownership occurred between 1940 and 1960, associated largely with declining age at first ownership. I shed light on the contribution of coincident government mortgage market interventions by examining home loan benefits granted under the World War II and Korean War GI Bills. The impact of veterans' housing benefits on home ownership is positive for young men, and declines with age. Veterans' benefits increased aggregate home ownership rates primarily by shifting purchase earlier in life, explaining 7.4 percent of the overall 1940-60 increase and 25 percent of the increase for affected cohorts. A rough extrapolation suggests that broader changes in mortgage terms may explain 40 percent of the 1940-60 increase.</description><subject>20th century</subject><subject>Age</subject><subject>Age groups</subject><subject>Development of the American Economy</subject><subject>Economic theory</subject><subject>Home loans</subject><subject>Home ownership</subject><subject>Housing policy</subject><subject>Korean War</subject><subject>Military service</subject><subject>Mortgage insurance</subject><subject>Mortgages</subject><subject>Studies</subject><subject>Subsidies</subject><subject>Veterans</subject><subject>World War II</subject><issn>0898-2937</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2011</creationdate><recordtype>article</recordtype><sourceid>NBR</sourceid><sourceid>ABUWG</sourceid><sourceid>AFKRA</sourceid><sourceid>BENPR</sourceid><sourceid>CCPQU</sourceid><sourceid>DWQXO</sourceid><recordid>eNo90E1PAjEQBuAeNBFRf4CnJp5X-wH9OBlEBBIIB0k8brbdWShZttjuSvj3NlnjYTKXJ-9MXoQeKHnmXImXM5VUiCs0IEqrjGkub9BtjAdCmFKEDtDXwp_xu8drH9pdsQP82ZnoSgcRT6oKbIsX_gh4c24gxL07veLZjyuhsYCr4I-43QNeuzKz0LRduOD5Er-5uo536Loq6gj3f3uIth-z7XSRrTbz5XSyykAynfGKWQCpOADVYDVJw1ipOCPEAPCqMMIKTZgYm_QvE4aMYQTE8IISoYAP0VMfewr-u4PY5gffhSZdzKlQKVhKqpPCvQLrGxfzU3DHIlxySkZCpJ4kS-SxJ42B8A_6-vgv0LthaA</recordid><startdate>20110601</startdate><enddate>20110601</enddate><creator>Fetter, Daniel K</creator><general>National Bureau of Economic Research</general><general>National Bureau of Economic Research, Inc</general><scope>CZO</scope><scope>MPB</scope><scope>NBR</scope><scope>XD6</scope><scope>OQ6</scope><scope>3V.</scope><scope>7WY</scope><scope>7WZ</scope><scope>7XB</scope><scope>87Z</scope><scope>8FK</scope><scope>8FL</scope><scope>ABUWG</scope><scope>AFKRA</scope><scope>BENPR</scope><scope>BEZIV</scope><scope>CCPQU</scope><scope>DWQXO</scope><scope>FRNLG</scope><scope>F~G</scope><scope>K60</scope><scope>K6~</scope><scope>L.-</scope><scope>M0C</scope><scope>PQBIZ</scope><scope>PQBZA</scope><scope>PQEST</scope><scope>PQQKQ</scope><scope>PQUKI</scope><scope>Q9U</scope></search><sort><creationdate>20110601</creationdate><title>How Do Mortgage Subsidies Affect Home Ownership? Evidence from the Mid-century GI Bills</title><author>Fetter, Daniel K</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-e729-3f2cee783ee19ec90ec922d83200bee3fab6c690265b88026b05e4e0b3a1068e3</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2011</creationdate><topic>20th century</topic><topic>Age</topic><topic>Age groups</topic><topic>Development of the American Economy</topic><topic>Economic theory</topic><topic>Home loans</topic><topic>Home ownership</topic><topic>Housing policy</topic><topic>Korean War</topic><topic>Military service</topic><topic>Mortgage insurance</topic><topic>Mortgages</topic><topic>Studies</topic><topic>Subsidies</topic><topic>Veterans</topic><topic>World War II</topic><toplevel>online_resources</toplevel><creatorcontrib>Fetter, Daniel K</creatorcontrib><collection>NBER Working Papers</collection><collection>NBER</collection><collection>National Bureau of Economic Research Publications</collection><collection>NBER Technical Working Papers Archive</collection><collection>ECONIS</collection><collection>ProQuest Central (Corporate)</collection><collection>ABI/INFORM Collection</collection><collection>ABI/INFORM Global (PDF only)</collection><collection>ProQuest Central (purchase pre-March 2016)</collection><collection>ABI/INFORM Global (Alumni Edition)</collection><collection>ProQuest Central (Alumni) (purchase pre-March 2016)</collection><collection>ABI/INFORM Collection (Alumni Edition)</collection><collection>ProQuest Central (Alumni Edition)</collection><collection>ProQuest Central UK/Ireland</collection><collection>ProQuest Central</collection><collection>Business Premium Collection</collection><collection>ProQuest One Community College</collection><collection>ProQuest Central Korea</collection><collection>Business Premium Collection (Alumni)</collection><collection>ABI/INFORM Global (Corporate)</collection><collection>ProQuest Business Collection (Alumni Edition)</collection><collection>ProQuest Business Collection</collection><collection>ABI/INFORM Professional Advanced</collection><collection>ABI/INFORM Global</collection><collection>ProQuest One Business</collection><collection>ProQuest One Business (Alumni)</collection><collection>ProQuest One Academic Eastern Edition (DO NOT USE)</collection><collection>ProQuest One Academic</collection><collection>ProQuest One Academic UKI Edition</collection><collection>ProQuest Central Basic</collection></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Fetter, Daniel K</au><format>book</format><genre>document</genre><ristype>GEN</ristype><atitle>How Do Mortgage Subsidies Affect Home Ownership? Evidence from the Mid-century GI Bills</atitle><jtitle>NBER Working Paper Series</jtitle><date>2011-06-01</date><risdate>2011</risdate><spage>17166</spage><pages>17166-</pages><issn>0898-2937</issn><abstract>The largest 20th-century increase in U.S. home ownership occurred between 1940 and 1960, associated largely with declining age at first ownership. I shed light on the contribution of coincident government mortgage market interventions by examining home loan benefits granted under the World War II and Korean War GI Bills. The impact of veterans' housing benefits on home ownership is positive for young men, and declines with age. Veterans' benefits increased aggregate home ownership rates primarily by shifting purchase earlier in life, explaining 7.4 percent of the overall 1940-60 increase and 25 percent of the increase for affected cohorts. A rough extrapolation suggests that broader changes in mortgage terms may explain 40 percent of the 1940-60 increase.</abstract><cop>Cambridge, Mass</cop><pub>National Bureau of Economic Research</pub><doi>10.3386/w17166</doi></addata></record> |
| fulltext | fulltext |
| identifier | ISSN: 0898-2937 |
| ispartof | NBER Working Paper Series, 2011-06, p.17166 |
| issn | 0898-2937 |
| language | eng |
| recordid | cdi_proquest_journals_1687837719 |
| source | National Bureau of Economic Research Publications; Alma/SFX Local Collection |
| subjects | 20th century Age Age groups Development of the American Economy Economic theory Home loans Home ownership Housing policy Korean War Military service Mortgage insurance Mortgages Studies Subsidies Veterans World War II |
| title | How Do Mortgage Subsidies Affect Home Ownership? Evidence from the Mid-century GI Bills |
| url | https://sfx.bib-bvb.de/sfx_tum?ctx_ver=Z39.88-2004&ctx_enc=info:ofi/enc:UTF-8&ctx_tim=2025-01-16T19%3A05%3A01IST&url_ver=Z39.88-2004&url_ctx_fmt=infofi/fmt:kev:mtx:ctx&rfr_id=info:sid/primo.exlibrisgroup.com:primo3-Article-proquest_econi&rft_val_fmt=info:ofi/fmt:kev:mtx:book&rft.genre=document&rft.atitle=How%20Do%20Mortgage%20Subsidies%20Affect%20Home%20Ownership?%20Evidence%20from%20the%20Mid-century%20GI%20Bills&rft.jtitle=NBER%20Working%20Paper%20Series&rft.au=Fetter,%20Daniel%20K&rft.date=2011-06-01&rft.spage=17166&rft.pages=17166-&rft.issn=0898-2937&rft_id=info:doi/10.3386/w17166&rft_dat=%3Cproquest_econi%3E3713873191%3C/proquest_econi%3E%3Curl%3E%3C/url%3E&disable_directlink=true&sfx.directlink=off&sfx.report_link=0&rft_id=info:oai/&rft_pqid=1687837719&rft_id=info:pmid/&rft_nber_id=w17166&rfr_iscdi=true |