The American Dream or the American Delusion? The Private and External Benefits of Homeownership for Women

44 Pages Posted: 3 Jul 2011  

Grace Wong Bucchianeri

University of Pennsylvania - Real Estate Department

Date Written: April 1, 2011

Abstract

This paper uses a unique data set with housing consumption, well-being measures and time use patterns to explore the implications of homeownership. After controlling for income, housing quality and health, female homeowners are not better off than renters by a variety of measures, both global and situational. Instead, they derive significantly more pain from their house and home – comparable to the unadjusted increase from a doubling in home value. Differences in financial security, health, self-esteem, perceived control, stress level cannot account for the well-being results. One potential mechanism is time use differences: female homeowners tend to spend less time on enjoyable activities, such as active leisure.

Keywords: Housing consumption, Homeownership, Well-being, Happiness

JEL Classification: R21, L85

Suggested Citation

Bucchianeri, Grace Wong, The American Dream or the American Delusion? The Private and External Benefits of Homeownership for Women (April 1, 2011). Available at SSRN: https://ssrn.com/abstract=1877163 or http://dx.doi.org/10.2139/ssrn.1877163

Grace Wong Bucchianeri (Contact Author)

University of Pennsylvania - Real Estate Department ( email )

Philadelphia, PA 19104-6330
United States

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