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Corrections to the Imputed Variables Related to Housing Equities in AHEAD 1995, and HRS 1996, 1998, and 2000 Imputation Data

September 9, 2003

Problems have been found with the imputations for primary home variables in HRS 1996, 1998, and 2000 data, and for the primary and second home variables in AHEAD 1995 data. The basic problem is that we have imputed home values for the households whose answers to the home ownership questions (including questions about farm/ranch, mobile home, and single-family house, apartment, and townhouse) were neither "own" nor "rent", but "other". We now believe that those households should be treated as "not-owning home", and, thus, should have a value of "0" (zero) on all the variables related to the home.

The variables affected by this data alert include the imputed values of the primary home, mortgage balance and payment, and real estate tax in all the waves identified, as well as the imputed values of the second home, mortgage balance and payment,and real estate tax in AHEAD 1995 (see Table 1 below). The constructed net worth variables in the HRS 1998 and 2000 wealth sections are also affected.

Table 1. Housing Variables Affected by the Data Alert

Concept of Variable Names of the Variables Affected
AHEAD95HRS96HRS98HRS00
Primary Home Variables
Primary Home Equity DHOME1 EHOME1FHOME1GHOME1
Primary Home Value D2246X E2246XF2753X/F2760XG3071X/G3078X
1st Mortgage Owned D2256X E2256XF2773X G3091X
Payment on 1st MortgageD2252X E2252XF2769X G3087X
2nd Mortgage Owned D2263X E2263XF2780X G3098X
Payment on 2nd MortgageD2260X E2260XF2777X G3095X
Other Loans Owned D2270X E2270XF2787X G3105X
Payment on Other Loans D2267X E2267XF2784X G3102X
Real Estate Tax D2292X E2292XF2809X G3127X
Second Home Variables
Second Home Equity DHOME2   
Second Home Value D2435X   
Mortgage Owned D2445X   
Payment on the MortgageD2441X   
Real Estate Tax D2480X   

The problem can be corrected fairly simply by modifying the imputation data according to the answers to the home ownership questions (including questions about farm/ranch, mobile home, and single-family house, apartment, and townhouse) in the core.

The detailed correction statements follow.

(1) Corrections to the Variables Related to Housing Equities in AHEAD 1995


 if D2226=7 or D2229=7 or D2234=7 then do;
    DHOME1=0;
    D2246X=0;
    D2256X=0;
    D2252X=0;
    D2263X=0;
    D2260X=0;
    D2270X=0;
    D2267X=0;
    D2292X=0;
 end;

 if D2409=7 or D2412=7 or D2417=7 then do;
    DHOME2=0;
    D2435X=0;
    D2445X=0;
    D2441X=0;
    D2480X=0;
 end;

(2) Corrections to the Variables Related to Housing Equities in HRS 1996


 if E2226=7 or E2229=7 or E2234=7 then do;
    EHOME1=0;
    E2246X=0;
    E2256X=0;
    E2252X=0;
    E2263X=0;
    E2260X=0;
    E2270X=0;
    E2267X=0;
    E2292X=0;
 end;

(3) Corrections to the Variables Related to Housing Equities in HRS 1998


 if (F2743=7 and F2746=. and F2751=.) or (F2743=. and F2746=7 and F2751=.)
   or (F2743=. and F2746=. and F2751=7) then do;
     FHOME1=0;
     F2753X=0;
     F2760X=0;
     F2773X=0;
     F2769X=0;
     F2780X=0;
     F2777X=0;
     F2787X=0;
     F2784X=0;
     F2809X=0;
 end;

(4) Corrections to the Variables Related to Housing Equities in HRS 2000


 if (G3061=7 and G3064=. and G3069=.) or (G3061=. and G3064=7 and G3069=.)
    or (G3061=. and G3064=. and G3069=7) then do;
     GHOME1=0;
     G3071X=0;
     G3078X=0;
     G3091X=0;
     G3087X=0;
     G3098X=0;
     G3095X=0;
     G3105X=0;
     G3102X=0;
     G3127X=0;
 end;

To give users a sense of the scale of the changes related to this data alert, Table 2 compares the mean values and standard deviations for the relevant housing equity and networth variables before and after the corrections.

Table 2. Housing Equity and Networth before and After Corrections

  AHEAD95 HRS96 HRS98 HRS00
Mean Mean Mean Mean
PRIMARY
HOME
EQUITY
Before
Corrections
69,523
(115,880)
70,952
(95,840)
77,310
(217,451)
87,737
(216,927)
After
Corrections
64,247
(115,191)
69,331
(95,737)
73,562
(217,177)
83,160
(216,374)
SECOND
HOME
EQUITY
Before
Corrections
3,749
(30,688)
     
After
Corrections
2,885
(27,479)
     
NET WORTH Before
Corrections
  281,025
(1,039,409)
326,587
(973,878)
 
After
Corrections
  277,276
(1,039,764)
322,010
(974,439)
 
Note: Standard deviations in parentheses.

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