Geographic mobility is a key factor affecting the home purchase decision, and a common reason for moving is to find work. Yet, little is known regarding how job loss risk affects home ownership via the mobility channel. Measuring this effect is difficult because job loss risk usually coincides with income and credit shocks. We isolate the mobility channel by studying economics professors on the tenure track. Our analysis uses public records to provide the first quantitative estimates of this effect, and we validate our results with a follow-up survey. A one percentage point increase in expected mobility, identified via variation in tenure risk, reduces the probability of home ownership by up to 1.8 percentage points.

地域流动性是影响购房决策的关键因素，搬家的常见原因是找工作。然而，人们对失业风险如何通过流动渠道影响房屋所有权知之甚少。衡量这种影响很困难，因为失业风险通常与收入和信用冲击同时发生。我们通过研究终身教职的经济学教授来隔离流动渠道。我们的分析使用公共记录来提供这种影响的第一次定量估计，并通过后续调查验证我们的结果。通过权属风险的变化确定的预期流动性增加 1 个百分点，可将拥有房屋的可能性降低多达 1.8 个百分点。