James Gunning

Date of Award

January 2016

Document Type


Degree Name

Master of Science (MS)


Economics & Finance

First Advisor

Cullen Goenner


Housing is a foundational element in both the American economy and society. The housing bubble and collapse that occurred in the mid to late 2000’s due to reduced credit standards was a substantial shock to the institution of American homeownership. To observe how different segments of the population were impacted as traditional lending standards were reestablished, a review of homeownership by occupation is examined over a ten-year period beginning just prior to the collapse in 2005. By examining the changes in homeownership probability between the occupations, a comparison can be made on how the different occupations responded to the collapse and the return of traditional lending standards. The results of the analysis revealed that occupations that have higher employment tenure rates and occupations that are connected to the community tended to retain higher probabilities for homeownership even after the collapse. Low wage occupations with high employment mobility displayed the largest decreases in homeownership probability.