How much has house lock affected labor mobility and the unemployment rate?
Abstract: This article explores new evidence from the U.S. Census Bureau?s Survey of Income and Program Participation (SIPP) on the extent to which ?house lock?--the reluctance of households to sell their homes in a declining house price environment--has contributed to the elevated unemployment rate since 2008.
File(s): File format is application/pdf http://www.chicagofed.org/digital_assets/publications/chicago_fed_letter/2011/cflseptember2011_290.pdf
Provider: Federal Reserve Bank of Chicago
Part of Series: Chicago Fed Letter
Order Number: 290