link here to article
One of the debates about our unemployment problem is whether the housing crisis has made our labor force less flexible. If that is the case, then we have a structural problem that cannot be resolved via fiscal policy. This article reviews data from a study that shows that the large number of households with negative equity, and therefore, less flexible about selling their home in order to move to where employment opportunities exist, is not a problem. There has been little change in interstate movement to take new jobs. Most of the opportunity is within counties and not limited by the inability of households to sell their homes.
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