Residential Mobility, Housing Equity and the Labour Market

Henley, Andrew

doi:10.1111/1468-0297.00295

Cited by 210 publications

(159 citation statements)

References 19 publications

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“…Such housing equity constraints have been shown in previous research to be an impediment to residential mobility (e.g. Genesove and Mayer, 1997;Henley, 1998;Chan, 2001;and Ferreira, Gyourko, and Tracy, 2010). Second, couples may be averse to selling their homes when prices are declining if they exhibit loss aversion (Kahneman and Tversky, 1979).…”

Section: B Predicted Effects Of House-price Changes On Divorcementioning

confidence: 87%

House Prices and Marital Stability

Farnham

Schmidt

Sevak

2011

American Economic Review

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We investigate the effect of house price changes on MSA-level divorce rates using data for 1991-2010 from the Current Population Survey and the Federal Housing Finance Agency. Our findings suggest that changing house prices significantly affect divorce rates, and that these effects are asymmetric with respect to housing gains versus losses. In addition, we find differential effects for groups that are more likely to be homeowners versus renters. Some of this evidence is consistent with homeowners being locked into their homes by increased transactions costs in down markets.3

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Section: B Predicted Effects Of House-price Changes On Divorcementioning

confidence: 87%

House Prices and Marital Stability

Farnham

Schmidt

Sevak

2011

American Economic Review

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“…Only 5% of all owners have lived at their current address for less than a year, while 27% of renters in the private unfurnished sector and 49% in the furnished sector moved in during the last 12 months. Henley (1998) reports findings suggesting that home ownership reduces mobility.…”

Section: Links Between Housing and Labor Markets -Stylized Facts And mentioning

confidence: 99%

Housing, Mobility, and Unemployment*

Dohmen¹

2009

Homeownership and the Labour Market in Europe

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Standard-Nutzungsbedingungen:Die Dokumente auf EconStor dürfen zu eigenen wissenschaftlichen Zwecken und zum Privatgebrauch gespeichert und kopiert werden.Sie dürfen die Dokumente nicht für öffentliche oder kommerzielle Zwecke vervielfältigen, öffentlich ausstellen, öffentlich zugänglich machen, vertreiben oder anderweitig nutzen.Sofern die Verfasser die Dokumente unter Open-Content-Lizenzen (insbesondere CC-Lizenzen) zur Verfügung gestellt haben sollten, gelten abweichend von diesen Nutzungsbedingungen die in der dort genannten Lizenz gewährten Nutzungsrechte. Terms of use: Documents in Housing, Mobility and UnemploymentThomas J. Dohmen The Institute for the Study of Labor (IZA) in Bonn is a local and virtual international research center and a place of communication between science, politics and business. IZA is an independent, nonprofit limited liability company (Gesellschaft mit beschränkter Haftung) supported by the Deutsche Post AG. The center is associated with the University of Bonn and offers a stimulating research environment through its research networks, research support, and visitors and doctoral programs. IZA engages in (i) original and internationally competitive research in all fields of labor economics, (ii) development of policy concepts, and (iii) dissemination of research results and concepts to the interested public. The current research program deals with (1) mobility and flexibility of labor markets, (2) internationalization of labor markets and European integration, (3) the welfare state and labor markets, (4) labor markets in transition, (5) the future of work, (6) project evaluation and (7) general labor economics. D I S C U S S I O N P A P E R S E R I E SIZA Discussion Papers often represent preliminary work and are circulated to encourage discussion. Citation of such a paper should account for its provisional character. This paper develops a model that shows why high-skilled workers move more and are therefore unemployed less than low-skilled workers. The model can explain the paradoxical empirical regularity that higher owner-occupation rates are associated with higher levels of unemployment although home-owners tend to be unemployed less. The choice of housing tenure affects moving costs and thereby regional mobility and unemployment. The paper analyzes the impact of symmetric and asymmetric shocks on mobility and unemployment, and discusses effects of government intervention in the housing market. In addition, it is shown that moving costs reduce job search effort and search effectiveness.

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“…From the hazard rate you can deduce how long a household category is expected to stay in its dwelling. Duration models make better use of information that is present in the dependent variable -after all the time spent in a dwelling is continuous and not discrete -and they are superior in their approach to the exit choice, yet more difficult to apply (see Henley 1998).…”

Section: Discussionmentioning

confidence: 99%