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The Joint Effect of Social Comparison and Social Distance on Evaluation of Intertemporal Choice Outcomes in Event-related Potential Studies
Published on: August 25, 2023
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Housing cost burden and life satisfaction
Arthur Acolin1, Vincent Reina1
1Department of City and Regional Planning, Weitzman School of Design, University of Pennsylvania.
Journal of Housing and the Built Environment : HBE
|February 13, 2023
Summary
High housing costs reduce life satisfaction. Households spending over 30% of income on housing report lower well-being, with those over 50% experiencing the most significant impact.
Area of Science:
- Socioeconomics
- Public Health
- Urban Studies
Background:
- Housing affordability is a growing global challenge, particularly impacting lower-income households.
- Excessive housing expenditure can force trade-offs with other consumption, potentially lowering life satisfaction.
Purpose of the Study:
- To investigate the relationship between the proportion of income spent on housing and reported life satisfaction.
- To identify thresholds of housing cost burden associated with decreased life satisfaction.
Main Methods:
- Analysis of 2018 European Union Statistics on Income and Living Conditions (EU-SILC) data.
- Cross-country comparison involving 14 European nations.
- Statistical control for household sociodemographic characteristics.
Main Results:
- Households spending over 30% of income on housing reported lower life satisfaction.
- A more pronounced negative association was observed for households spending over 50% of income on housing.
- The negative impact of housing cost burden on life satisfaction was consistent across countries but varied in intensity.
Conclusions:
- A significant housing cost burden negatively impacts life satisfaction.
- Further research is needed to understand the mechanisms and country-specific factors (e.g., welfare systems) influencing this relationship.
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