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Sustainability of Homeownership: Factors Affecting the Duration of Homeownership and Rental Spells
Donald R. Haurin (au); Stuart S. Rosenthal (au)
The nation’s homeownership rate is affected by both the length of time that households remain as homeowners rather than reverting to being a renter & the length of time households rent or live with their parents following the termination of a period of homeowning. Thus, differences in ownership rates between whites, African Americans, & Hispanics could be due, in part, to differences in their durations of owning, renting, & living with parents. This analysis reveals that it is not true that “once an owner, always an owner.” The rate of exiting from homeownership differs substantially by race & ethnicity of the owner. This study follows a cohort of individuals for 21 years. Policies must promote new ownership spells that are sustainable. Tables.
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