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House Prices and Marital Stability

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  • Martin Farnham
  • Lucie Schmidt
  • Purvi Sevak

Abstract

We investigate the effect of house price changes on divorce using data for 1991-2010 from the Current Population Survey and the Federal Housing Finance Agency. Our findings suggest that changing house prices significantly affect the share of a cohort that is divorced, and that these effects are asymmetric with respect to housing gains versus losses. In addition, we find differential effects for groups that are more likely to be homeowners versus renters. Some of this evidence is consistent with homeowners being locked into their homes--and hence marriages--by increased transactions costs in down markets.

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File URL: http://www.aeaweb.org/articles.php?doi=10.1257/aer.101.3.615
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Bibliographic Info

Article provided by American Economic Association in its journal American Economic Review.

Volume (Year): 101 (2011)
Issue (Month): 3 (May)
Pages: 615-19

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Handle: RePEc:aea:aecrev:v:101:y:2011:i:3:p:615-19

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  1. Coile Courtney C & Levine Phillip B, 2011. "The Market Crash and Mass Layoffs: How the Current Economic Crisis May Affect Retirement," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 11(1), pages 1-42, April.
  2. Chan, Sewin, 2001. "Spatial Lock-in: Do Falling House Prices Constrain Residential Mobility?," Journal of Urban Economics, Elsevier, vol. 49(3), pages 567-586, May.
  3. Campbell, John Y. & Cocco, Joao F., 2007. "How do house prices affect consumption? Evidence from micro data," Journal of Monetary Economics, Elsevier, vol. 54(3), pages 591-621, April.
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Cited by:
  1. John Gathergood & Eleonora Fichera, . "House Prices, Home Equity and Health," Discussion Papers 12/07, University of Nottingham, School of Economics.
  2. Melissa Ruby Banzhaf, 2013. "When It Rains It Pours: Under What Circumstances Does Job Loss Lead to Divorce," Working Papers 13-62, Center for Economic Studies, U.S. Census Bureau.

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