Racial differences in household wealth: Beyond Black and White

Campbell, Laura A.; Kaufman, Robert L.

doi:10.1016/j.rssm.2005.06.001

Cited by 82 publications

(74 citation statements)

References 37 publications

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“…Research on wealth inequality beyond the black-white divide is in its infancy (Campbell and Kaufman 2000;Flippen 2001a;Hao forthcoming). A larger literature has examined residential segregation and inequality in housing conditions for whites and Hispanics or Asians, but this research has not connected housing conditions to home equity or wealth (Alba and Logan 1992;Alba, Logan, and Stults 2000b;Fischer 2003;Flippen 2001b;Frey and Farley 1996;Krivo 1995;Massey and Denton 1993;Myers and Lee 1998;Rosenbaum and Friedman 2001).…”

Section: Housing and Wealth Inequality: Racial-ethnic Differences In mentioning

confidence: 99%

“…Kennickell and his colleagues found that Hispanic and nonwhite households together hold just a quarter of the wealth of non-Hispanic white households (Kennickell and Shack-Marquez 1992;Kennickell and Starr-McCluer 1994;Kennickell et al 1997). Much smaller differences in wealth exist between Asians and whites (Campbell and Kaufman 2000;Hao forthcoming).…”

Section: Prior Researchmentioning

confidence: 99%

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Housing and wealth inequality: Racial-ethnic differences in home equity in the United States

2004

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In our study, we took a first step toward broadening our understanding of the sources of both housing and wealth inequality by studying differences in housing equity among blacks, Hispanics, Asians, and non-Hispanic whites in the United States. Using data from the American Housing Survey, we found substantial and significant gaps in housing equity for blacks and Hispanics (but not for Asians) compared with whites, even after we controlled for a wide range of locational, life-cycle, socioeconomic, family, immigrant, and mortgage characteristics. Furthermore, the payoffs to many factors are notably weaker for minority than for white households. This finding is especially consistent across groups for the effects of age, socioeconomic status, and housing-market value. Blacks and Hispanics also uniformly receive less benefit from mortgage and housing characteristics than do whites. These findings lend credence to the burgeoning stratification perspective on wealth and housing inequality that acknowledges the importance of broader social and institutional processes of racial-ethnic stratification that advantage some groups, whites in this case, over others.

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Section: Housing and Wealth Inequality: Racial-ethnic Differences In mentioning

confidence: 99%

Section: Prior Researchmentioning

confidence: 99%

Housing and wealth inequality: Racial-ethnic differences in home equity in the United States

2004

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“…Black/white racial wealth disparities that exceed income disparities continue today as white families pass on more wealth to their offspring than black families (Conley 1999;Oliver and Shapiro 1997;Shapiro 2004). Significant disparities in wealth accumulation, home ownership rates, and home equity also exist between white and Hispanic households (Flippin 2001;Krivo and Kaufman 2004;Campbell and Kaufman 2006). Having been incarcerated adds to these inequalities.…”

Section: Resultsmentioning

confidence: 99%

The Absorbing Status of Incarceration and its Relationship with Wealth Accumulation

Maroto

2014

J Quant Criminol

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Objectives This study extends our knowledge on the negative effects of incarceration to the accumulation of wealth by examining whether, how, and how much incarceration affects home ownership and net worth. It also investigates how these outcomes vary with the time since a person was incarcerated and the number of incarceration periods, along with addressing potential mechanisms behind this relationship.Methods I apply hybrid mixed effects models that disaggregate within-and between person variation to investigate incarceration's relationship with home ownership and net worth, using National Longitudinal Study of Youth data from 1985 to 2008. I also incorporate a set of mediation models in order to test for indirect effects of incarceration on wealth through earnings, health, and family formation. ResultsMy results show that incarceration limits wealth accumulation. Compared to never-incarcerated persons, ex-offenders are less likely to own their homes by an average of 5 percentage points, and their probability of home ownership decreases by an additional 28 percentage points after incarceration. Ex-offenders' net worth also decreases by an average of $42,000 in the years after incarceration.Conclusions When combined with previous research on incarceration, my findings show that incarceration acts as an absorbing status, potentially leading to the accumulation of disadvantage. Although incarceration's negative effects on wealth accumulation were partially mediated by its relationship with earnings and family formation, incarceration directly affected home ownership and net worth. In most cases, former inmates began with flatter wealth trajectories and experienced additional losses after incarceration.Electronic supplementary material The online version of this article (

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“…Previous literature noticed this relationship and investigated the earning differentials between Asian Americans and other races. Campbell and Kaufman (2006) found that although Asian-Americans were more educated and had an overall high socio-economic status, their net worth levels were still lower than white households controlling for residential location, household structure, citizenship, age, employment status and income. In particular, employment status and family structure had an influential effect on Asian-Americans' wealth level.…”

Section: Financial Wellbeingmentioning

confidence: 93%

Financial Wellbeing of Asian Americans

Yao

2016

Handbook of Consumer Finance Research

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The Asian American population in the United States has been increasing. Research on the economic wellbeing of this minority group is far from being adequate. It is generally found that Asian Americans are more highly educated and have more wealth. Although the homeownership rate of this population is lower than the national average rate, the gap is gradually narrowing.Asian Americans are found to have more confidence in their financial future and have better management in their financial lives. In addition, Asian-owned businesses have been an important part of the U.S. economy and, as such, the self-employment status of Asian Americans has stimulated great interest for research. Large differences in financial behaviors exist among different groups in Asian Americans. This chapter serves the purpose to summarize past research on Asian American consumer finances and provide directions for future research.

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Racial differences in household wealth: Beyond Black and White

Cited by 82 publications

References 37 publications

Housing and wealth inequality: Racial-ethnic differences in home equity in the United States

Housing and wealth inequality: Racial-ethnic differences in home equity in the United States

The Absorbing Status of Incarceration and its Relationship with Wealth Accumulation

Financial Wellbeing of Asian Americans

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