Negative equity does not reduce homeowners' mobility
By: Sam Schulhofer-Wohl
Contributors: National Bureau of Economic Research
Series: NBER working paper series -- working paper 16701; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 16701.
Publisher: National Bureau of Economic Research
Published: 2011
Place of publication: Cambridge, MA
Language: eng
Format: Electronic resource
Description: "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"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 4/21/2011.

Includes bibliographical references.

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