House Prices, Home Equity and Health

48 Pages Posted: 3 Jan 2013  

Eleonora Fichera

University of Manchester

John Gathergood

University of Nottingham - School of Economics

Date Written: January 3, 2013

Abstract

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).

Keywords: health, home equity, house prices

JEL Classification: I10, I13

Suggested Citation

Fichera, Eleonora and Gathergood, John, House Prices, Home Equity and Health (January 3, 2013). Available at SSRN: https://ssrn.com/abstract=2196216 or http://dx.doi.org/10.2139/ssrn.2196216

Eleonora Fichera

University of Manchester ( email )

Oxford Road
Manchester, M13 9PL
United Kingdom

HOME PAGE: http://www.population-health.manchester.ac.uk/staff/EleonoraFichera/

John Gathergood (Contact Author)

University of Nottingham - School of Economics ( email )

University Park
Nottingham, NG7 2RD
United Kingdom

HOME PAGE: http://https://sites.google.com/site/gathergoodjohn/

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