NAR disputes idea that rise in homeownership rates may disrupt labor markets

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Increased rates of homeownership in a region may lead to higher unemployment, two economics professors suggest in a new research paper. Dartmouth College professor David Blanchflower and University of Warwick professor Andrew Oswald don’t claim that homeowners are more likely to be unemployed, but maintain that rises in homeownership rates can lead to reduced worker mobility, longer commute times, and fewer new businesses.

Lawrence Yun, chief economist for the National Association of Realtors, takes issue with the study’s conclusions, saying job growth is a better measure of economic vitality. Sources: piiee.com and realtor.org.