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Are American Homeowners Locked into Their Houses? The Impact of Housing Market Conditions on State-to-State Migration
Modestino, Alicia - 2015
U.S. policymakers are concerned that negative home equity arising from the housing market crash may be constraining geographic mobility and consequently serving as a factor in the persistently high national unemployment rate. Indeed, the widespread drop in house prices since 2007 has increased...
Persistent link: https://www.econbiz.de/10013036520
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Are American Homeowners Locked into Their Houses? The Impact of Housing Market Conditions on State-to-State Migration
Modestino, Alicia - 2012
U.S. policymakers are concerned that negative home equity arising from the severe housing market decline may be constraining geographic mobility and consequently serving as a factor in the nation's persistently high unemployment rate. Indeed, the widespread drop in house prices since 2007 has...
Persistent link: https://www.econbiz.de/10013102538
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Right to buy... time to move? : investigating the effect of the right to buy on moving behaviour in the UK
Ham, Maarten van; Williamson, Lee; Feijten, Peteke; … - 2010
One of the goals of the Right to Buy (RTB) was to stimulate labour migration by removing the debilitating effect of social housing on geographical mobility. This is the first study to examine rigorously whether the Right to Buy legislation did indeed 'free-up' those in social housing who bought...
Persistent link: https://www.econbiz.de/10008796487
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The Effect of Homeownership on Geographic Mobility and Labor Market Outcomes
Winkler, Hernan - 2011
This paper examines the effect of homeownership on mobility and labor income and provides new evidence that owning a … experiments. The first shows that the home mortgage deduction has a positive effect on homeownership, affects mobility and creates …, homeownership exhibits a large increase, while the mobility and labor income of households experiencing negative labor market shocks …
Persistent link: https://www.econbiz.de/10013132270
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Transfer taxes and household mobility : distortion on the housing or labour market?
Hilber, Christian; Lyytikäinen, Teemu - 2015
We estimate the effect of the UK Stamp Duty Land Tax on household mobility using micro data. The UK (until 2014) provided an ideal setting to explore the impact of housing transfer taxes on mobility decisions. This is partly because the stamp duty liability is quite substantial, at least for...
Persistent link: https://www.econbiz.de/10011476354
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The effect of homeownership on the option value of regional migration
Oswald, Florian - In: Quantitative economics : QE ; journal of the … 10 (2019) 4, pp. 1453-1493
This paper estimates a lifecycle model of consumption, housing choice, and migration in the presence of aggregate and regional shocks, using the Survey of Income and Program Participation (SIPP). The model delivers structural estimates of moving costs by ownership status, age, and family size...
Persistent link: https://www.econbiz.de/10012202852
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"We'll always have Paris" : out-of-country buyers in the housing market
Cvijanovic, Dragana; Spaenjers, Christophe - 2018
Previous research has shown that non-local household investors make sub-optimal asset selection and market timing decisions. However, in real estate markets, heterogeneity in returns can exist even with identical ex ante investment (timing) choices, given that transaction prices are the outcome...
Persistent link: https://www.econbiz.de/10012219354
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Dissimilarity effects on house prices : what is the value of similar neighbours?
Bonakdar, Said Benjamin; Roos, Michael W. M. - 2021
Residential choice does not only depend on properties of the dwelling, neighborhood amenities and affordability, but is also affected by the population composition within a neighbourhood. All these attributes are capitalised in the house price. Empirically, it is not easy to disentangle the...
Persistent link: https://www.econbiz.de/10012433602
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Homeownership : low household mobility, volatile housing prices, high income dispersion
Ortalo-Magné, François; Rady, Sven - 2002
joint location and tenure mode decisions. To investigate the effect of homeownership on equilibrium prices and allocations … three results. First, homeownership enables more households to remain in the more desirable location at the expense of … newcomers. Second, homeownership adds to the volatility of the housing market. Third, homeownership may amplify the dispersion …
Persistent link: https://www.econbiz.de/10011514075
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Housing Transfer Taxes and Household Mobility : Distortion on the Housing or Labour Market?
Hilber, Christian A. L. - 2013
We estimate the effect of the UK Stamp Duty Land Tax on household mobility using micro data. Exploiting a discontinuity in the tax schedule as a quasi-experimental setting, we isolate the impact of the stamp duty from other determinants of mobility. We compare homeowners with self-assessed house...
Persistent link: https://www.econbiz.de/10013077916