Report: Push for homeownership society causes unemployment | Katonah Real Estate

It may seem counterintuitive, but apparently a new study from leading economists David Blanchflower with Dartmouth’s Department of Economics and Andrew Oswald with the University of Warwick claims increases in U.S. homeownership actually lead to higher levels of unemployment.

This suggestion counters the notion that increased homeownership activity is healthy for the economy, so take it with a grain of salt.

The report, which is available here, was covered on CNBC with the news agency saying the era of building an ‘ownership society’ is now blamed for causing less social mobility and employment options.

Blanchflower and Oswald claim upticks in homeownership lead to lower levels of labor mobility, greater commute times and fewer new businesses.

These issues eventually contributed to fewer employment opportunities, they suggest.

With homeownership-centric areas having more zoning restrictions and fewer businesses coming in, an economic stall is the potential end result, the study suggests.


Bedford New York Real Estate | Bedford NY Homes by Robert Paul Realtor » Blog Archive » Report: Push for homeownership society causes unemployment | Katonah Real Estate.

About robertpaulrealtor 914-325-5758

Realtor in Bedford NY specializing in marketing and selling luxury homes and finding the perfect homes for new buyers. Working in Armonk, Katonah, Pound Ridge, Lewisboro, Chappaqua and North Salem. 914-325-5758
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