Department of Apparel, Housing, and Resource Management
Permanent URI for this community
Browse
Browsing Department of Apparel, Housing, and Resource Management by Author "Apparel, Housing, and Resource Management"
Now showing 1 - 4 of 4
Results Per Page
Sort Options
- Are Millennials leaving town? Reconciling peak Millennials and youthification hypothesesLee, Hyojung (2021-01-11)Are Millennials leaving town? Yes, they are. Are young adults leaving town? No, they are not. The seemingly contradicting answers are due to the fact that age and birth cohort are distinct concepts. Showing how these two phenomena can coexist, this paper aims to provide detailed and timely information on how Millennials are faring compared to previous generations in the United States. Using the 1962-2019 Current Population Survey (CPS), the paper first analyzes the current status of Millennials, in terms of various demographic and socio-economic dimensions, and compares them with those of older generations at the same ages. The results indicate that Millennials did experience delays in transition into adulthood, but they have started to catch up in recent years. Then this paper examines the residential location of young adults and Millennials across metropolitan status, and across urban and suburban areas of the largest 50 Metropolitan Statistical Areas (MSAs) in the United States. The analysis based on the confidential version of the 2006-2019 American Community Survey (ACS) microdata confirms that the early Millennials have started to migrate from urban to suburban areas, consistent with the peak Millennial hypothesis, and that the urban presence of young adults has increased over time, consistent with the youthification hypothesis. Reconciling the two hypotheses, this paper discusses the implications of ongoing demographic shifts for the future urban landscape. Highlights Early Millennials have started to migrate to suburbs as they age into their 30s. Yet, the presence of young adults age 25-34 in urban areas has also grown. This study reconciles the two seemingly conflicting trends with empirical evidence. Policymakers need to address the shift in Millennial demand towards suburban homes. Policymakers should also expect sustained demand for urban living among young adults.
- Bank adaptation to neighborhood change: Mortgage lending and the Community Reinvestment ActLee, Hyojung; Bostic, Raphael W. (2020-03)This research explores whether banks strategically leverage regulatory rules for the Community Reinvestment Act that fix a neighborhood's eligibility status over a decade based on a neighborhood's economic trajectory over that decade. Using 2004-2011 Home Mortgage Disclosure Act (HMDA) data, we find that banks approve loans more frequently in those neighborhoods that are most rapidly improving, and that this effect is stronger if the neighborhoods are CRA-eligible low- and moderate-income (LMI) tracts. We find the "moving up" CRA premium ranges in magnitude from a 2 to 13 percent reduction in the likelihood an application is not approved. These results suggest that banks learn which neighborhoods are most rapidly improving and funnel activity to those places to reduce default risk while complying with the fair lending regulation. The results imply a potential unanticipated consequence of the regulation is that it changes the distribution of resources within the target population.
- The Impacts of the Neighborhood Built Environment on Social Capital for Middle-Aged and Elderly KoreansHwang, Eunju; Brossoie, Nancy; Jeong, Jin Wook; Song, Kimin (MDPI, 2021-01-14)The purpose of this study was to investigate the relationship between the neighborhood built environment (NBE) aspects of age-friendly cities and communities (AFCCs) and social capital in the Korean context. We described and compared age differences when analyzing misfits of AFCC NBE and impacts on social capital. We collected the data (N = 1246) from two Korean communities; our multiple and binary logistic regression outcomes show that AFCC NBE aspects such as outdoor spaces, transportation, and housing are significant predictors of different subcategories of social capital. For the older group, the outdoor spaces misfit was significant for all three subcategories of social capital, but transportation and housing misfits were significant for the social trust and reciprocity index scores. For the middle-aged group, the outdoor spaces misfit was significant for social networking and participation, and a transportation misfit was significant for participation and social trust and reciprocity. Fewer misfits or better fits of outdoor spaces and transportation encouraged more networking, participation, social trust, and reciprocity. Dwelling type was important to predict social capital, especially for the older group. The present study confirmed the importance of AFCC NBE in predicting social capital and unique factors in the Korean context.
- Residential Satisfaction of Rural Older Adults Aging in PlaceLee, Sung-Jin; Parrott, Kathleen Rose; Lee, Minyong; Robinson, Sheryl Renee; Owusu, Ricky Nimako (2021-02)This study explored residential (housing and town) satisfaction of rural older adults aging in place, relating to demographic and housing characteristics. We conducted a structured, face-to-face survey with 149 rural older adults. Regression results revealed that housing satisfaction for rural older adults were significantly related to demographic and housing characteristics, including personal health status, healthy home status, and structure size. Bivariate analysis revealed that satisfaction with a town feature, shopping location, was the most frequently related to demographic and housing variables, followed by cost of living in town; and that health status was most frequently associated with town feature satisfaction. The study results can enhance programs and/or services for older adults aging in rural communities.