Ferreira, Fernando; Gyourko, Joseph; Tracy, Joseph - In: Journal of Urban Economics 68 (2010) 1, pp. 34-45
Using two decades of American Housing Survey data from 1985 to 2007, we revisit the literature on lock-in effects and provide new estimates of the impacts of negative equity and rising interest rates on the mobility of owners. Both lead to substantially lower mobility rates. Owners suffering...