NDLI: The Gender Gap in Housing Returns

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The Gender Gap in Housing Returns

Content Provider	Scilit
Author	Goldsmith-Pinkham, Paul S. Shue, Kelly
Copyright Year	2020
Description	Journal: SSRN Electronic Journal Housing wealth represents the dominant form of savings for American households. Using detailed data on housing transactions across the United States since 1991, we find that single men earn 1.5 percentage points higher unlevered returns per year on housing relative to single women. The gender gap grows significantly larger after accounting for mortgage borrowing: men earn 7.9 percentage points higher levered returns per year relative to women. Approximately 45% of the gap in housing returns can be explained by gender differences in the location and timing of transactions. The remaining gap arises primarily from gender differences in execution prices: data on repeat sales reveal that women buy the same property for approximately 2% more and sell for 2% less. Women experience worse execution prices because of differences in the choice of initial list price and negotiated discount relative to the list price. Gender differences in upgrade and maintenance rates, and preferences for housing characteristics and listing agents appear to be less important factors. Overall, the gender gap in housing returns is economically large and can explain 30% of the gender gap in wealth accumulation at retirement.
Related Links	http://humcap.uchicago.edu/RePEc/hka/wpaper/Goldsmith-Pinkham_Shue_2020_gender-gap-housing-returns.pdf https://papers.ssrn.com/sol3/Delivery.cfm?abstractid=3559892
ISSN	10914358
e-ISSN	15565068
DOI	10.2139/ssrn.3559892
Journal	SSRN Electronic Journal
Language	English
Publisher	Elsevier BV
Publisher Date	2020-03-23
Access Restriction	Open
Subject Keyword	Journal: SSRN Electronic Journal Gender Gap Wealth Accumulation
Content Type	Text
Resource Type	Article
Subject	Public Health, Environmental and Occupational Health Psychiatry and Mental Health

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