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Housing wealth distribution, inequality and residential satisfaction

Published version
Peer-reviewed

Type

Article

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Abstract

This research investigates the relationship between housing wealth and residential satisfaction. Using household panel survey data from the UK, we find that individuals’ asymmetric responses to changes in housing wealth distribution, i.e., loss aversion experienced by the worse-off group, could offset the gain from an increase in housing wealth at the aggregate level. Consequently, housing wealth growth does not necessarily improve residential satisfaction for the society as a whole if it leads to housing wealth inequality. Given the significant impact of housing wealth distribution on residential satisfaction, it is important to consider housing wealth inequality in making public policy decisions.

Description

Keywords

housing policy, panel data analysis, fixed effects, social preference, behavioural economics

Journal Title

Regional Studies

Conference Name

Journal ISSN

0034-3404
1360-0591

Volume Title

Publisher

Informa UK Limited
Sponsorship
Economic and Social Research Council (ES/P004296/1)
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