Home-ownership as a social norm and positional good: Subjective wellbeing evidence from panel data

Foye, Chris; Clapham, David; Gabrieli, Tommaso

doi:10.1177/0042098017695478

Cited by 63 publications

(36 citation statements)

References 38 publications

(60 reference statements)

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“…Although the rate of home-ownership is declining, it is still the preferred tenure in this age group. The rate and norms around home-ownership in the New Zealand context are comparable to those documented in the USA and the United Kingdom (Andrews and Sánchez 2011; Foye, Clapham and Gabrieli 2017). Promoting home-ownership is also an important policy goal in New Zealand (Ministry of Business, Innovation and Employment 2014; New Zealand Housing Strategy 2004).…”

Section: The Present Studysupporting

confidence: 57%

Loneliness, socio-economic status and quality of life in old age: the moderating role of housing tenure

et al. 2017

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The study investigated housing tenure as a factor moderating the effects of loneliness and socio-economic status (SES) on quality of life (control and autonomy, pleasure, and self-realisation) over a two-year period for older adults. Data from the 2010 and 2012 waves of the New Zealand Health, Work, and Retirement Study were analysed. Using case-control matching, for each tenant (N = 332) we selected a home-owner (N = 332) of the same age, gender, ethnicity, SES, working status and urban/rural residence. Structural equation modelling was employed to examine the impact of SES, housing tenure and loneliness on quality of life over time. Emotional loneliness exerted a significant negative main effect on control and autonomy and pleasure. Tenure and SES influenced control and autonomy, but not pleasure or self-realisation. Tenure moderated the effect of emotional loneliness on control and autonomy, with the negative effect of emotional loneliness weaker for home-owners compared to renters. Tenure moderated the effect of SES on control and autonomy, with the positive impact of SES stronger for home-owners. Findings suggest that owners capitalise on their material and financial resources more than tenants in terms of their quality of life. In addition, home-ownership can act as a protective factor against the harmful effects of emotional loneliness in old age.

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Section: The Present Studysupporting

confidence: 57%

Loneliness, socio-economic status and quality of life in old age: the moderating role of housing tenure

et al. 2017

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“…Prominent in the literature has been a change in the language and subject matter surrounding affordability that used to focus more squarely on housing need (Whitehead, 1991). Increasingly the affordability decision to purchase a house is associated with the status that is conveyed on the purchaser through different levels of positive status effects associated with location and property quality (Foye, Clapham, & Gabrieli, 2017). Ownership of a second home is also increasing in New Zealand and provides a second source of income for many (Eaqub & Eaqub, 2015).…”

Section: Literaturementioning

confidence: 99%

“…These results suggest that house price affordability in the most disconnected region (group 4) was not significantly sensitive to global financial pressures, perhaps because wages and house prices are determined locally without strong influence from major centres of population or from overseas. The lack of a statistically significant effect of the global financial crisis on housing affordability in the highly unaffordability regions (group 1) suggests the presence of other regional-specific factors that shape house price affordability there, such as a social desirability bias (Foye et al, 2017) or buy-to-rent investments with relatively safer rental incomes (Jordà et al, 2017). In contrast, regions with secondary housing markets with good labour market access (group 2) and regions with more affordable and less proximity to core labour markets (group 3) both experienced the greatest improvements in affordability.…”

Section: Trajectory Regressionsmentioning

confidence: 99%

House price affordability, the global financial crisis and the (ir)relevance of mortgage rates

Squires

Webber

2019

Regional Studies, Regional Science

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Although house prices and wages are both influenced by distinct factors that shape their own evolutions, they are also intrinsically connected through house price affordability. Further, macroeconomic policies centred around adjustments in the mortgage rate are of prime importance in ensuring that the housing market does not overheat. This study contributes to the understanding of the link between housing market affordability and mortgage rates by investigating this association across regions of New Zealand using quarterly data between 2000 and 2017. Applications of trajectory regression reveal that the global financial crisis affected regional house price affordability asymmetrically and there was no statistically significant correlation between house price affordability and mortgage rates.

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“…Among housing attributes, tenure and location are particularly emphasised, although price and quality, which are highly correlated with tenure and location, are also significant aspects (Clapham, 2002). Despite considerable variations, rental housing choices predominate in the initial stage of a housing career, and are often followed by a transition to ownership, as owned homes generally are of higher quality and provide a sense of financial and psychological security (Foye et al, 2018; Huang, 2004; Wang and Otsuki, 2015). Changes in residential location, which constitute the spatial aspects of housing careers, offer a micro-level understanding of the sorting mechanism of socio-spatial stratification and urban restructuring (Li and Mao, 2017; Wu, 2004).…”

Section: Literature Reviewmentioning

confidence: 99%

Housing career disparities in urban China: A comparison between skilled migrants and locals in Nanjing

Cui

2018

Urban Studies

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The last two decades have witnessed a substantial growth of the owner-occupied housing sector in urban China, where most people tend to follow a conventional life course in terms of ascending the housing ladder towards homeownership. Yet, with skyrocketing housing prices in the real estate market, fragmentation in housing opportunities has become more important in reshaping the structure of social inequalities. This paper investigates the disparities in housing careers between skilled migrants and their local counterparts in Nanjing, focusing on temporal and spatial aspects. Specifically, this paper examines how skilled migrants’ housing tenure and location change over time, to what extent these changes differ from those of skilled locals, and what factors contribute to the disparities between migrants and locals. The results verify that there are indeed disparities in housing careers between migrants and locals, and the foremost difference lies in the tenure, especially the tenure of the first residence. Spatially, migrants exhibit an outward-bound pattern, often associated with the transition from renting to owning. These disparities in housing careers could be primarily attributed not only to the gap of the intergenerational transfer of wealth between migrants and locals, which can be traced back to regional disparities in economic development, but also to the self-selection of migration. While facing skyrocketing housing prices, the timing of making a foray into the housing market is pivotal. This study also revealed the diminishing marginal utility of education that is found in terms of establishing a superior housing career.

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Home-ownership as a social norm and positional good: Subjective wellbeing evidence from panel data

Cited by 63 publications

References 38 publications

Loneliness, socio-economic status and quality of life in old age: the moderating role of housing tenure

Loneliness, socio-economic status and quality of life in old age: the moderating role of housing tenure

House price affordability, the global financial crisis and the (ir)relevance of mortgage rates

Housing career disparities in urban China: A comparison between skilled migrants and locals in Nanjing

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