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Report: Underwater homeowners don’t greatly impact jobless rate

By Jenifer B. McKim

 |  Globe Staff  

  February 09, 2012

Falling home values have kept some troubled homeowners from moving to another state for work -- but not enough to make a major impact on the national jobless rate. That’s the conclusion of a new report by the Federal Reserve Bank of Boston, which looked at the impact of the housing market on jobs. The report, produced by the bank’s New England Public Policy Center, examined homeowners whose properties were “underwater,” or when their mortgage was larger than the value of the home.

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