Negative Equity Does Not Reduce Homeowners' Mobility

Pubblico
Creator Series Issue number
  • 682
Date Created
  • 2010-12-22
Abstract
  • Some commentators have argued that the housing crisis may harm labor markets because homeowners who owe more than their homes are worth are less likely to move to places that have productive job opportunities. I show that, in the available data, negative equity does not make homeowners less mobile. In fact, homeowners who have negative equity are slightly more likely to move than homeowners who have positive equity. Ferreira, Gyourko, and Tracy's (2010) contrasting result that negative equity reduces mobility arises because they systematically drop some negative-equity homeowners' moves from the data.

Subject (JEL) Parola chiave Related information Corporate Author
  • Federal Reserve Bank of Minneapolis. Research Department
Publisher
  • Federal Reserve Bank of Minneapolis
Resource type DOI
License

Le relazioni

In Collection:
Ultima modifica

Contenuto scaricabile

Scarica il pdf

Zipped Files

Download a zip file that contains all the files in this work.

Elementi