Question:

Economics: What does it mean by immobility of housing & immobiliy of labour?

by  |  earlier

0 LIKES UnLike

Economics: What does it mean by immobility of housing & immobiliy of labour?

 Tags:

   Report

2 ANSWERS


  1. an article in The Atlantic ties both together.  The effect of the recent housing crisis on the labor market is interesting.


  2. It means that houses can't move.  Once it's built, it's going to stay put in the place you built it.  This doesn't apply to mobile homes, tents, cardboard boxes, etc.

    Immobility of labor means that workers are reluctant to change jobs.  They get comfortable at one, their kids settle into schools, they don't want to move their immobile homes to relocate, etc.

    The upshot of something being immobile is that even though a better opportunity might be out there, it's too hard to get it, and people will stay put until a certain threshold is passed.

Question Stats

Latest activity: earlier.
This question has 2 answers.

BECOME A GUIDE

Share your knowledge and help people by answering questions.