The New Deal, Race, and Home Ownership in the 1920s and 1930s
Trevor M. Kollmann, Price V. Fishback
American Economic Review · 2011 · Volume 101 · Issue 3
Abstract
Many federal government housing policies began during the New Deal of the 1930s. Many claim that minorities benefited less from these policies than whites. We estimate the relationships between policies in the 1920s and 1930s and black and white home ownership in farm and nonfarm settings using a pseudo-panel of repeated cross-sections of households in 1920, 1930, and 1940 matched with policy measures in 460 state economic areas. The policies examined include FHA mortgage insurance, HOLC loan refinancing, state mortgage moratoria, farm loan programs, public housing, public works and relief, and payments to farmers to take land out of production.
Keywords
Banks, Other Depository Institutions, Micro Finance Institutions, Mortgages, Economics of Minorities and Races, Non-labor Discrimination, Economic History: Labor and Consumers, Demography, Education, Health, Welfare, Income, Wealth, Religion, and Philanthropy: U.S., Canada: 1913-, Economic History: Government, War, Law, International Relations, and Regulation: U.S., Regional and Urban History: U.S., Housing Supply and Markets, Production Analysis and Firm Location: Government Policies, Regulatory Policies
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