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Monetary Policy and Racial Inequality in Housing Markets: A Study of 140 US Metropolitan Areas

Staff Working Paper 2023-62 Qi Li, Xu Zhang
We find that minority households see greater declines in housing returns and entries into homeownership than White households after a tightening of monetary policy. Our findings emphasize the unintended consequences of monetary policy on racial inequality in the housing market.
Content Type(s): Staff research, Staff working papers Topic(s): Central bank research, Housing, Monetary policy JEL Code(s): E, E4, E40, E5, E52, R, R0, R00