Join our mailing list!
(Your shopping cart is empty)
Diane Publishing Books
Housing Wealth and Wage Bargaining
Chris Cunningham (au); Robert R. Reed (au)
This report examines the relationship between housing equity and wage earnings. The authors first provide a simple model of wage bargaining where failure leads to both job loss and mortgage default. Moreover, foreclosure generates disutility beyond selling a home. They test this prediction using nine waves of the Nat. Am. Housing Survey and find that people with an underwater mortgage command a significantly lower wage than other homeowners. The authors also include other determinants of "house lock" such as a favorable mortgage interest rate relative to the current rate and a capped property tax assessment, but they do not find these factors lower earnings. They conclude that negative equity matters because default is unpleasant or costly, not because it precludes an out-of-state job search. Tables. This is a print on demand report.
Sherlock Holmes Victorian Cookbook: Favourite Recipes of the Great Detective & Dr. Watson
Peter Pan: The Original Tale of Neverland
Sale Price: $13.00
Reading from the Heart: Women, Literature & the Search for True Love
Years of Renewal
Sale Price: $12.00
Carnavalia!: African-Brazilian Folklore and Crafts
Sale Price: $10.00
Share your knowledge of this product with other customers...
Be the first to write a review
Diane Publishing Co
PO Box 617
Darby, PA 19023-0617
Become an Affiliate
Send Us Feedback
Copyright ï¿½ 2004 Diane Publishing Company. All Rights Reserved.