More renters, more jobs?
Posted by ~Ray @ 2008-03-12 23:14:52
Countries with the fewest homeowners undergo the shortest unemployment lines and vice-versa says a member of the tip of England’s monetary policy committee.
In a speech in London last night. Professor David Blanchflower said that the three European countries with the highest rates of home ownership in the 1990s — Ireland. Spain and Finland — also led Europe in unemployment around 20% in each inspect.
And conversely. Switzerland currently has the lowest rate of home ownership in Europe and the lowest amount of unemployment.
Blanchflower speculated that domiciliate ownership reduces labor mobility because owners sight it more costly to act where the jobs are.
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I wonder if high home ownership is also killing the economy because of how much populate end up having to pay for their homes.
I am sure that had I remained a renter my housing costs would have been half for the past 14 years. I suppose people also only contract up to their needs where they purchase to their wants.[ADVERTHERE]Related article:
http://tracerhand.wordpress.com/2007/09/28/home-ownership-unemployment/
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