Table 6. Results (Coefficients) Estimating the Effect of Gentrification (Binary) on Residential Mobility by Economic Cycle.

	Move (Any Move)			Move Downward

	2003–2007	2008–2010	2011–2014	2003–2007	2008–2010	2011–2014
Gentrification (binary)	-0.006^**	0.012^***	0.010^***	200.00074	2- 00.10026 ^*	200.01140
*Gentrification & risk score (Ref: Nongentrify &Score 750+)*
Gentrify	-0.023^***	0.004	0.010	-0.025	-0.077^***	-0.044
Score 650–749	0.014^***	0.012^**	0.008^*	0.029	0.038^*	0.065^***
Score 580–649	-0.002	0.008	0.006	0.078^***	0.071^***	0.086^***
Score <580	-0.040^***	-0.029^***	-0.013^***	0.114^***	0.114^***	0.136^***
Gentrify & Score 650–749	0.038^***	0.036^***	0.031^***	0.016	0.016	0.018
Gentrify & Score 580–649	0.026^***	0.011	0.002	0.03	0.048	0.066^**
Gentrify & Score <580	0.009	-0.004	-0.015^**	0.046^*	0.084^***	0.082^***
Gentrify + Gentrify & Score <580	-0.014^***	0.001	-0.005	0.021	0.007	0.038^**
*Gentrification & mortgage status (Ref: Nongentrify & Mortgage)*
Gentrify	-0.017^***	-0.004	-0.002	-0.007	-0.062^***	-0.033
No mortgage	-0.018^***	0.007^**	0.014^***	0.030^***	0.025^*	0.027^**
Gentrify & no mortgage	0.013^**	0.020^***	0.015^***	0.014	0.044^**	0.051^**
Gentrify + Gentrify & No mortgage	-0.004	0.016^***	0.013^***	0.007	-0.018	0.018
*Gentrification & risk score (residents without mortgages) (Ref: Nongentrify & Score 750+)*
Gentrify	-0.017^***	0.014^*	0.017^**	-0.029	-0.075^**	-0.064^*
Score 650–749	0.019^***	0.022^***	0.011^**	0.029	0.038	0.067^**
Score 580–649	0.004	0.015^***	0.009^*	0.077^***	0.066^**	0.083^***
Score <580	-0.035^***	-0.026^***	-0.013^***	0.116^***	0.120^***	0.139^***
Gentrify & Score 650–749	0.036^***	0.035^***	0.037^***	0.009	0.015	0.037
Gentrify & Score 580–649	0.016^**	0.005^***	-0.004	0.023	0.059	0.083^**
Gentrify & Score <580	0.000	-0.014^***	-0.023^***	0.053^*	0.079^**	0.098^***
Gentrify + Gentrify & Score<580	-0.016^***	0.000	-0.006	0.024	0.003	0.034^*

Note: From different linear probability regressions; the 2003–2007 cohort does not include 2005 observations;

^{***, **, *}

represent significant at 0.01, 0.05, or 0.1 level, respectively; control variables include risk score, household size, age, mortgage status, serious delinquency, distance to City Hall and universities, year dummies, and neighborhood indicators; estimation is based on data from the FRBNY Consumer Credit Panel/Equifax.