Housing Market Appreciation and the White-Black Wealth Gap
Abstract
Abstract Real house prices in the United States have risen by 55 percent over the last four decades, driving substantial wealth benefits to homeowners. However, research has not explored how this rise in house prices has affected White-Black wealth gaps, or the mechanisms that may underlie this relationship. Using geocoded longitudinal household-level wealth data from the Panel Study of Income Dynamics and tract-level house price index data, I estimate that housing market appreciation between 1984 and 2021 explains 70 percent of the increase in the median White-Black wealth gap over this period. I find that most of this effect is due to White-Black gaps in homeownership, with White-Black gaps in house values playing a smaller role. In contrast to recent findings about racialized housing markets, I do not find that gaps in neighborhood house price appreciation between White and Black homeowners contributed to White-Black wealth gaps in the 2000s and 2010s. These results highlight the importance of cumulative advantage processes in driving wealth inequalities and demonstrate how the legacies of institutional racism contribute to contemporary racial wealth gaps.
Metadata is indexed. Open-access discovery has not completed for this record yet.
No local PDF is available.
GROBID Extracted text; discontinued.
This text is generated from TEI extraction for accessibility, search, and TTS. Formulas, tables, figures, page layout, and references may not perfectly match the original PDF.
No accessible text representation is available. The text extraction service has been discontinued for the time being. If you require this service, for accessibility or any other reason, please submit an issue/request on this page.
Metadata
Issues
No public issues have been filed for this DOI.
Submit an issue
Record history
| When | Event | Field | Old | New |
|---|---|---|---|---|
| 2026-06-18 19:37:53.011249+00:00 | identifier_assigned | DSEID | DSEID-000-4459377 |