Housing wealth distribution, inequality and residential satisfaction

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, that is, loss aversion experienced by the worse-off group, co...

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Bibliographic Details
Published in:Regional studies 2023-11, Vol.57 (11), p.2238-2251
Main Authors: Bao, Helen X. H., Meng, Charlotte Chunming
Format: Article
Language:English
Subjects:
Aversion
behavioural economics
Economic inequality
fixed effects
Housing
Housing authorities
housing policy
Inequality
Longitudinal studies
Panel data
panel data analysis
Public policy
Satisfaction
social preference
Wealth distribution
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Summary: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, that is, 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 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.
ISSN:0034-3404
1360-0591
DOI:10.1080/00343404.2022.2159938