Location Efficiency and Mortgage Risks for Low-Income Households |
| |
| Authors: | Nikhil Kaza Sarah F Riley Roberto G Quercia Chao Yue Tian |
| |
| Institution: | 1. Center for Community Capital, University of North Carolina at Chapel Hill, USA;2. Department of City &3. Regional Planning, University of North Carolina at Chapel Hill, USAnkaza@unc.edu;5. Regional Planning, University of North Carolina at Chapel Hill, USA;6. School of Economics, Xinan F&7. E University, Liu Tai Da Dao, Chengdu, Sichuan, China |
| |
| Abstract: | AbstractHousehold energy expenditures, especially for transportation, are fairly inelastic. Their effects on low-income households may be significant, due to the potential for energy consumption to displace other types of consumption when energy prices rise. Using accessibility as a proxy for lower transportation costs, we test the hypothesis that low- and moderate-income residents are less likely default when they are located in more accessible places. We find that regional accessibility has almost no effect on risks of default, but local job diversity has moderate mitigating effect. |
| |
| Keywords: | Affordability low-income housing mortgage risks location efficiency |
|
|
