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The Relationship between the Housing & Labor Market Crises and Doubling-Up: An MSA-Level Analysis, 2005-2010

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Author Info

  • Rogers, William H.

    ()
    (University of Missouri-St. Louis)

  • Winkler, Anne E.

    ()
    (University of Missouri-St. Louis)

Abstract

It is now well-established that the U.S. housing market crisis preceded the labor market crisis and that, in the wake of these crises, doubling-up and cohabitation increased and homeownership fell. What is less clear is what happened at the subnational level. This study reports on: 1) how the length, severity and relative timing of both the labor market and housing crises varied by MSA; and 2) the association between the timing of the labor market and housing crises and changes in homeownership and doubling-up at the MSA level. The analysis is conducted using data on 353 MSAs, with a focus on 12 MSAs, for the period 2005 (pre-crisis) through 2010/2011. MSAs are categorized into those where the housing market declined first, those where the labor market declined first, and those where the events were concurrent. The analysis reveals that: 1) in the majority of MSAs, the labor market declined first, contrary to the national pattern and the experience of the vast majority of large MSAs; 2) there is a clear relationship between greater regional housing distress and falling homeownership rates; and 3) somewhat surprisingly, the association between changes in doubling-up and these crises are fairly weak at the MSA level.

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Bibliographic Info

Paper provided by Institute for the Study of Labor (IZA) in its series IZA Discussion Papers with number 7263.

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Length: 38 pages
Date of creation: Mar 2013
Date of revision:
Publication status: Published in: Monthly Labor Review, 2013
Handle: RePEc:iza:izadps:dp7263

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Keywords: household formation; foreclosures; housing market; labor market;

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References

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  1. Borsch-Supan, Axel, 1986. "Household formation, housing prices, and public policy impacts," Journal of Public Economics, Elsevier, vol. 30(2), pages 145-164, July.
  2. Wall, Howard J., 2013. "The employment cycles of neighboring cities," Regional Science and Urban Economics, Elsevier, vol. 43(1), pages 177-185.
  3. Winkler, Anne E., 1992. "The impact of housing costs on the living arrangements of single mothers," Journal of Urban Economics, Elsevier, vol. 32(3), pages 388-403, November.
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  11. Fernando Ferreira & Joseph Gyourko, 2011. "Anatomy of the Beginning of the Housing Boom: U.S. Neighborhoods and Metropolitan Areas, 1993-2009," NBER Working Papers 17374, National Bureau of Economic Research, Inc.
  12. Zhu Xiao Di & Xiaodong Liu, 2006. "The Effects of Housing Push Factors and Rent Expectations on Household Formation of Young Adults," Journal of Real Estate Research, American Real Estate Society, vol. 28(2), pages 149-166.
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Cited by:
  1. Sala, Hector & TrivĂ­n, Pedro, 2013. "Labour Market Dynamics in Spanish Regions: Evaluating Asymmetries in Troublesome Times," IZA Discussion Papers 7746, Institute for the Study of Labor (IZA).
  2. Natasha V. Pilkauskas & Irwin Garfinkel & Sara S. McLanahan, 2013. "Doubling Up as a Private Safety Net for Families with Children," Working Papers 1480, Princeton University, Woodrow Wilson School of Public and International Affairs, Center for Research on Child Wellbeing..

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