However, the correlation between flows into hard-currency bond funds and both local-currency bond funds and equity funds has decreased significantly lately, while the correlation between EM equity fund flows and EM local-currency bond fund flows has trended higher.

FORBES: Currency Risk Subdued As Portfolio Money Flows To Emerging Markets

Economists, in fact, have found that there is frequently a correlation between persistently high local unemployment rates and high levels of homeownership.

WSJ: Renting Prosperity

But the majority have not had their support cut and this is reinforced by a recent report by Demos and Scope, Coping with the Cuts, which found no direct correlation between budget reductions and the impact on local people.

BBC: Charity cuts fear for those with learning disabilities