Original title: Housing bust and long-term human capital scarring in the U.S.
Authors: Pestova, Anna ; Popov, A.
Document type: Research reports
Year: 2026
Language: eng
Series: CERGE-EI Working Paper Series, volume: 817
Abstract: We document persistent human capital scarring among the children of homeowners who reached college age during the 2008–2011 housing bust. Negative shocks to parental housing wealth substantially reduced college attendance among first-year college-age children of homeowners, relative to their counterparts from renter households. In regions experiencing the largest declines in housing wealth, the educational gap between the offspring of homeowners and renters persisted for at least a decade. The shortfall in human capital accumulation translated into lower long-run employability, particularly in education-intensive sectors, and resulted in lower earnings among the affected cohort.
Keywords: homeownership; housing wealth; human capital
Project no.: EH23_025/0008693
Funding provider: GA MŠk

Institution: Economics Institute AS ČR (web)
Document availability information: Fulltext is available at external website.
External URL: https://www.cerge-ei.cz/pdf/wp/Wp817.pdf
Original record: https://hdl.handle.net/11104/0378608

Permalink: http://www.nusl.cz/ntk/nusl-697449


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