I show that individuals whose unemployment risk tends to increase more when local home prices fall optimally invest … increase in the covariance between individually estimated unemployment risks and local home prices implies an average increase …

In this paper we investigate Oswald's hypothesis according to which higher homeownership rates increase aggregate … unemployment rates. To this end, we develop a matching model à la Pissarides (2000) in which homeowners are assumed to be less … following an (exogenous) increase in homeownership rates. We show that (1) Oswald's hypothesis does not always hold as it …

homeownership and declining unemployment are linked and that the causality runs from high homeownership leading to high unemployment …. The unemployment rate declined steadily as well, except for upward shifts due to the late 1990s Asian Financial Crisis and … and mortgaged homeownership. Generally, the evidence that a declining homeownership rate contributes to a lower …

literature. Our analysis is cast within a dynamic setting and the endogeneity of each outcome is assessed through the estimation …The paper investigates the links between homeownership, employment and earnings for which no consensus exists in the … longer employment and unemployment spells, they must contend with lower earnings than tenants upon reemployment. They also …