Disentangling the housing satisfaction puzzle: Does homeownership really matter?
By Luis Diaz-Serrano. 2009
149 citations recorded by the source corpus.
There is a general consensus that homeownership has beneficial effects for both individuals and society in many outcomes. However, research regarding the effect of homeownership on individuals' subjective well-being remains inconclusive. In this paper, for the first time, we provide empirical evidence for the link between homeownership and housing satisfaction using panel data. We use the eight waves of the European Community Household Panel (ECHP) covering the period 1994-2001. We observe that renters who become homeowners not only experience a significant increase in housing satisfaction, but also after changing their tenure status, they obtain a different utility from the same housing context. This evidence might provide support to the hypothesis that a share of the differences in the perceived utility derived from housing can be attributed to (un)fulfilled expectations or aspirations regarding homeownership.
Subfields: Economics and Econometrics, Marketing, Sociology and Political Science
View Paper: https://www.semanticscholar.org/paper/d0d77c2563fdf1dd7d445f4d704fceb5e62db876
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Citations in the corpus
- Exploring the link between neighborhood environment and mental wellbeing: A case study in Beijing, China (2017, background): “A study in Europe shows that renters who become homeowners not only experience a significant increase in housing satisfaction, but also after changing their tenure status, they obtain different benefits from the same housing context (Diaz-Serrano, 2009).”
- Homeownership and Subjective Wellbeing in Urban China: Does Owning a House Make You Happier? (2011, background): “In line with other relevant studies (Appleton and Song 2008; Diaz-Serrano 2009), the self-rated health status is one important determinant of individual subjective wellbeing.”
- Determinants of residential satisfaction in urban China: A multi-group structural equation analysis (2017, background): “Homeowners tend to be more satisfied with their housing and community characteristics than tenants (Deurloo et al., 1994; Diaz-Serrano, 2009; Parkes et al., 2002) because they generally have fewer incentives to move out of their current community (Dietz and Haurin, 2003; Helderman et al.”