Abstract
The 2008 Financial Crisis changed how we look at real estate and home ownership. It is well established that the deregulation of the financial sector by policies that eased the necessary lending standards to get a mortgage led to the crisis. This paper studies the impacts of the 2008 Financial Crisis on the home ownership of immigrants in the US. Using data from the Current Population Survey from 2002 - 2016, this paper examines both the quantity impact (overall home ownership) and the quality impact (various dwelling characteristics). Furthermore, the paper explores the heterogeneous effects of the 2008 Crisis across different immigrant cohorts and finds that older immigrant cohorts are the least vulnerable group and are 7.38% more likely than natives to own a home. They are also more likely to own a single-housing unit and rarely live in an apartment or a mobile home compared to other groups.
How to Cite
Keller, T., (2021) “The Effects of the 2008 Financial Crisis on Immigrant Cohorts Looking into Housing Ownership and Dwelling Characteristics”, Capstone, The UNC Asheville Journal of Undergraduate Scholarship 34(1).
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