I remember driving through W. Va. during the 60s & seeing the unemployed miners on their porches. They could not afford to sell their houses at distressed prices, so they waited for things to improve.
Oswald, Andrew J. 1999. "The Housing Market and Europe's Unemployment: A Non-Technical Paper." <http://www2.warwick.ac.uk/fac/soc/economics/staff/faculty/oswald/homesnt.pdf> Andrew Oswald's finding that home ownership is the most reasonable explanation for differences in unemployment rates between countries. The scatter graph has a very impressive fit. -- Michael Perelman Economics Department California State University Chico, CA 95929 530 898 5321 fax 530 898 5901 http://michaelperelman.wordpress.com _______________________________________________ pen-l mailing list [email protected] https://lists.csuchico.edu/mailman/listinfo/pen-l
