Long-term impacts of individual development accounts on homeownership among baseline renters: Follow-up evidence from a randomized experiment

Michal Grinstein-Weiss; Michael Sherraden; William G. Gale; William M. Rohe; Mark Schreiner; Clinton Key

doi:10.1257/pol.5.1.122

Long-term impacts of individual development accounts on homeownership among baseline renters: Follow-up evidence from a randomized experiment

Michal Grinstein-Weiss, Michael Sherraden, William G. Gale, William M. Rohe, Mark Schreiner, Clinton Key

Research output: Contribution to journal › Article › peer-review

Abstract

We examine the long-term effects of a 199-82003 randomized experiment in Tulsa, Oklahoma with Individual Development Accounts that offered low-income households 2:1 matching funds for housing down payments. Prior work shows that, among households who rented in 1998, homeownership rates increased more through 2003 in the treatment group than for controls. We show that control group renters caught up rapidly with the treatment group after the experiment ended. As of 2009, the program had an economically small and statistically insignificant effect on homeownership rates, the number of years respondents owned homes, home equity, and foreclosure activity among baseline renters.

Original language	American English
Pages (from-to)	122-145
Number of pages	24
Journal	American Economic Journal: Economic Policy
Volume	5
Issue number	1
DOIs	https://doi.org/10.1257/pol.5.1.122
State	Published - 1 Feb 2013
Externally published	Yes

UN SDGs

This output contributes to the following UN Sustainable Development Goals (SDGs)

SDG 10 Reduced Inequalities
SDG 11 Sustainable Cities and Communities

All Science Journal Classification (ASJC) codes

General Economics,Econometrics and Finance

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10.1257/pol.5.1.122

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Long-term impacts of individual development accounts on homeownership among baseline renters: Follow-up evidence from a randomized experiment

Abstract

UN SDGs

All Science Journal Classification (ASJC) codes

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