In a world with complete markets and no transactions cost, the decision whether to rent or buy a home is separate from a household's professional income risk. If markets are incomplete and have frictions, however, profession- specific income risk, regional house price risk, and mobility needs...

Previous research using the German Socio-Economic Panel showed that immigrants moved slightly more fre-quently than native-born Germans. The research in this paper extends that work and examines the extent to which this increased mobility is translated into improved housing quality. Overall, we...