Unlike Chapter 7 that focuses on outright homeowners and tenants, this chapter focuses on the distinction between outright homeowners and homeowners with a mortgage. Specifically, based on the theoretical insights of Chapter 6 , the present chapter performs an empirical panel analysis (on 27 European countries for the period 2014–2023) and shows that the sign of the relation between homeownership and employment changes drastically, depending on the type of homeowner considered.