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Accounting for Homeowner Mobility in Net Housing Wealth Accumulation across Social Groups

The choice of principal residence is an important issue in differentiating net housing wealth (NHW) accumulation across social groups. We propose a new quantitative framework to decompose NHW accumulation as the sum of capital gains for stayers (homeowners who do not move), changes in debt, and two mobility gaps for movers.  These two gaps result from differentiated access to homeownership (access ...