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Title: Owned Now Rented Later? Housing Stock Transitions and Market Dynamics

Citation Type: Miscellaneous

Publication Year: 2018

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Abstract: Although it is well known that the durable nature of housing amplifies downturns, an overlooked mechanism by which this occurs is through shifts in the ownership status of local housing stocks. Based on census and American Housing Survey data, I show that there is a 2 percent net shift of single family U.S. housing stock into the rental sector with each passing decade. Short term transitions following the 2007 crash were larger, exceeding 10 percent for recently built homes, and should partially reverse as markets rebound. Indeed, in recent years,18 fewer construction permits were filed for every 100 post-crash own-to-rent transitions, about the same effect as from vacant housing. These and other patterns confirm that housing stock transitions contribute to filtering of older housing down to lower income families and slow recovery following a negative shock.

Url: https://www.census.gov/housing/hvs/data/histtabs.html

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Authors: Rosenthal, Stuart S

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Data Collections: IPUMS USA

Topics: Housing and Segregation

Countries: United States