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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 …
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Highly productive economies require a flexible labor force with workers that move in accordance with the changing demand for goods and services. In times with falling housing prices, home owning workers' mobility may be hampered by a lock-in effect from low and negative equity. This paper...
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