How changes in housing prices affect family relationships and life satisfaction among Older Household Heads in Korea

CheolHoon Park and Jun Hyung Kim

ERES from European Real Estate Society (ERES)

Abstract: This study analyzes whether changes in residential housing prices affect family relationships and life satisfaction among the older household heads based on life satisfaction theory and wealth theory. To do so, we analyzed the residential housing prices of 596 respondents at two points in time between 7th and 8th wave of the Aging Research Panel Survey in Korea. We summarize our findings as follows First, we found that changes in housing prices have different effects on life satisfaction for different age groups. Second, we found that women are more sensitive to housing prices than men. Third, we found that family relationships are more sensitive to wealth at older ages. These results indicate that the impact of residential housing prices on life satisfaction differs among different age groups of the elderly and suggest the need for a Korean life-cycle hypothesis design to guide successful aging of the elderly.

Keywords: family relationship; Housing Price; Life Satisfaction; preparation for retirement (search for similar items in EconPapers)
JEL-codes: R3 (search for similar items in EconPapers)
Date: 2023-01-01
New Economics Papers: this item is included in nep-age and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:arz:wpaper:eres2023_210

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