A note on the benefits of homeownership

This brief note adds to recent work that attempts to identify externalities associated with homeownership. The results suggest that some of the homeownership effect found by Green and White is driven by family characteristics associated with homeownership. especially residential stability. However, as much as home-ownership increases residential stability, ii appears to be correlated with higher school attainment. Attempts to control for endogeneity cannot climinate this finding. (C) 2000 Academic Press.