Economy

xchrom

(108,903 posts)

12. High Home Ownership Is Strongly Linked To High Unemployment [STUDY]

Fri Nov 1, 2013, 07:50 AM

Nov 2013

http://www.businessinsider.com/high-home-ownership-is-strongly-linked-to-high-unemployment-2013-11

LONDON (Reuters) - High levels of home ownership are strongly linked to subsequent rises in unemployment because labor mobility becomes reduced, according to new research.
Using data going back to 1950 across all U.S. states except Alaska and Hawaii, Warwick University economics professor Andrew Oswald finds that the lag from ownership levels to unemployment rates can take up to five years to show up.

But he said the linkage, established using data on millions of randomly sampled Americans, was extraordinarily robust.

Doubling home ownership in a state can lead to more than a doubling of the jobless rate.

Read more: http://www.businessinsider.com/high-home-ownership-is-strongly-linked-to-high-unemployment-2013-11#ixzz2jOT7w1JZ

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