A new study by two professors from University of Warwick in England suggests that higher homeownership levels correlate to higher unemployment, a finding contrary to long-held beliefs in the unmitigated benefits of owning a home.
"Homeownership is a good thing, for the individual and for society. Or so American governments, whether Republican or Democrat, have long believed,' writes Floyd Norris. "The benefits have been cited repeatedly in justifying the existence and expansion of the tax breaks given to home buyers."
"But maybe it isn’t nearly as good as had been thought," he continues.
"A new study [PDF] by two economists concludes that rising levels of homeownership in a state 'are a precursor to eventual sharp rises in unemployment in that state.' As more homes are owned, in other words, fewer people have jobs."
"If the correlation is real, what could be the cause?", asks Norris. "The professors say they believe that high homeownership in an area leads to people staying put and commuting farther and farther to jobs, creating cost and congestion for companies and other workers. They speculate that the role of zoning may be important, as communities dominated by homeowners resort to 'not in my backyard' efforts that block new businesses that could create jobs."
FULL STORY: Challenge to Dogma on Owning a Home

Planetizen Federal Action Tracker
A weekly monitor of how Trump’s orders and actions are impacting planners and planning in America.

Chicago’s Ghost Rails
Just beneath the surface of the modern city lie the remnants of its expansive early 20th-century streetcar system.

Amtrak Cutting Jobs, Funding to High-Speed Rail
The agency plans to cut 10 percent of its workforce and has confirmed it will not fund new high-speed rail projects.

Ohio Forces Data Centers to Prepay for Power
Utilities are calling on states to hold data center operators responsible for new energy demands to prevent leaving consumers on the hook for their bills.

MARTA CEO Steps Down Amid Citizenship Concerns
MARTA’s board announced Thursday that its chief, who is from Canada, is resigning due to questions about his immigration status.

Silicon Valley ‘Bike Superhighway’ Awarded $14M State Grant
A Caltrans grant brings the 10-mile Central Bikeway project connecting Santa Clara and East San Jose closer to fruition.
Urban Design for Planners 1: Software Tools
This six-course series explores essential urban design concepts using open source software and equips planners with the tools they need to participate fully in the urban design process.
Planning for Universal Design
Learn the tools for implementing Universal Design in planning regulations.
Caltrans
City of Fort Worth
Mpact (founded as Rail~Volution)
City of Camden Redevelopment Agency
City of Astoria
City of Portland
City of Laramie