This paper examines whether rising house prices immediately prior to children entering their college years impacts their intergenerational earnings mobility and/or educational outcomes. Higher house prices provide homeowners, especially liquidity constrained ones, with additional funding to...

Using individual-level credit reports merged with loan-level mortgage data, we estimate how mobility relates to home equity when labor markets are weak or strong. We control for constant individual-specific traits with fixed effects and find that homeowners with negative home equity move to...