Table 1
Homeowner Sample Who Transitioned to Adulthood During the First Gulf War: Comparing Homeowners Who Own Their Residence Without a Mortgage or Loan (2017–2021).
| VARIABLE | VETERAN | NO MILITARY SERVICE | DIFFERENCE |
|---|---|---|---|
| Self-reported single-family house value (1,000) | $233 | $303 | –$70 |
| (317) | (427) | (10.6) | |
| Bachelor’s degree (1 = yes; 0 = No) | 0.41 | 0.47 | –0.06 |
| (0.49) | (0.50) | (0.01) | |
| Total household income (1,000) | $119.3 | $128.5 | $–9.2 |
| (91.9) | (119.6) | (3.0) | |
| Female (1 = yes; 0 = no) | 0.12 | 0.48 | –0.36 |
| (0.33) | (0.50) | (0.01) | |
| White (1 = yes; 0 = no) | 0.79 | 0.74 | 0.05 |
| (0.41) | (0.44) | (0.01) | |
| Married | 0.65 | 0.65 | –0.01 |
| (0.48) | (0.48) | (0.01) | |
| Times married | 1.22 | 1.04 | 0.17 |
| (0.74) | (0.65) | (0.02) | |
| Number of bedrooms | 4.26 | 4.33 | –0.07 |
| (0.90) | (0.91) | (0.02) | |
| Number of own children in the household | 1.05 | 1.09 | –0.04 |
| (1.17) | (1.16) | (0.03) | |
| Lives in birth state (1 = yes; 0 = no) | 0.55 | 0.59 | –0.04 |
| (0.50) | (0.49) | (0.01) | |
| The number of respondents in the sample | 1,642 | 51,819 | 53,461 |
[i] Source: Ruggles et al. (2023).
Table 2
All Homeowners Who Transitioned to Adulthood During the First Gulf War: Joining the All-Volunteer Force Was Associated with Lower Housing Wealth.
| DEPENDENT VARIABLE: LN (HOME VALUE) | |||
|---|---|---|---|
| INDEPENDENT VARIABLES | MODEL 1 | MODEL 2 | MODEL 3 |
| Veteran (β) | –0.147 | –0.155 | –0.109 |
| Robust standard error | (0.027) | (0.025) | (0.023) |
| % Δ home value = 100[exp(β)–1)] | –13.7% | –14.4% | –10.3% |
| Xi (see demographic characteristics in Table 1) | No | Yes | Yes |
| State and year group effects | No | No | Yes |
| Observations | 53,461 | 53,461 | 53,461 |
| R-squared | 0.116 | 0.301 | 0.447 |
[i] Note: The sample includes homeowners who own their single-family residence without a mortgage or loan. Standard errors are calculated using the Huber/White/sandwich estimator.
Figure 1
All Homeowners Who Transitioned to Adulthood During the First Gulf War: Variables with Economically Significant Positive Associations with Self-Reported Home Values (Percent Increase).