House Prices, Home Equity and Health
University of Manchester
University of Nottingham
January 3, 2013
Home equity has a strong impact on individual health. In UK household panel data home equity lowers the likelihood of home owners exhibiting a broad range of medical conditions. This is due to increased use of private health care, reduced hours of work and increased exercise. Home equity, unlike income, does not increase risky health behaviours such as smoking and drinking. Home equity is highly pro-cyclical. The positive health effects of home equity gains on home owner health over the business cycle offset the negative effects of labour market conditions and work intensity as shown in US data by Ruhm (2000).
Number of Pages in PDF File: 48
Keywords: health, home equity, house prices
JEL Classification: I10, I13
Date posted: January 3, 2013
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