TY - JOUR
T1 - Long-term impacts of individual development accounts on homeownership among baseline renters
T2 - Follow-up evidence from a randomized experiment
AU - Grinstein-Weiss, Michal
AU - Sherraden, Michael
AU - Gale, William G.
AU - Rohe, William M.
AU - Schreiner, Mark
AU - Key, Clinton
PY - 2013/2/1
Y1 - 2013/2/1
N2 - 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.
AB - 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.
UR - http://www.scopus.com/inward/record.url?scp=84873502319&partnerID=8YFLogxK
U2 - 10.1257/pol.5.1.122
DO - 10.1257/pol.5.1.122
M3 - Article
AN - SCOPUS:84873502319
SN - 1945-7731
VL - 5
SP - 122
EP - 145
JO - American Economic Journal: Economic Policy
JF - American Economic Journal: Economic Policy
IS - 1
ER -
