Sociology Students Study Homeownership in Manchester

While the Great Recession officially ended in 2009, the housing market has been slow to recover in the Northeast. Is the mortgage crisis over in New Hampshire? What motivates people to buy homes these days?

Three sociology students, juniors Alyssa DeMarco and Ivy Stafford and senior Paige Agresti, assisted Professor of Sociology and Anthropology Margaret Walsh in an effort to learn how people make decisions about real estate, establish credit, compare loan products, and ultimately, become new homeowners in New Hampshire.

Last spring, Dr. Walsh observed homeowner education classes in Nashua and Manchester with the cooperation of Paul McLaughlin and Ryan Tufts at NeighborWorks of Southern New Hampshire. “Learning about credit scores, saving for down payments, and not stretching budgets too far is helpful, whatever your age or income level,” she said. “Having this knowledge reduces the risk of foreclosure. The research shows it works.”

This fall, Andrew Cadorette ’90, Program Manager for Homeownership Programs at the New Hampshire Housing Finance Authority, invited Dr. Walsh to lead focus group interviews in Manchester. They wanted to learn about the first six months of homeownership from the perspective of 20 recent homebuyers to improve their services and programs.

Agresti, DeMarco, and Stafford stepped forward when Dr. Walsh advertised the opportunity in her Sociological Research Methods course. They worked as research assistants, attended the focus group sessions, took notes, and transcribed the 90-minute interviews, which took place on October 30th and November 13th, 2014.

Data are still being analyzed, but the students found the conversations eye-opening. The focus group participants felt they were buying at the right time, interest rates were low and prices were relatively stable. When debriefing, the students agreed that the experience taught them that homeownership is within reach, but it requires years of earning and planning. It also helps to know where you want to settle, and to have practical skills, like the ability to paint and renovate!

Stay tuned for more important insights from this effort, once the team has had a chance to analyze the data.

—Dr. Margaret Walsh