Real estate and personality

Danny Ben-Shahar and Roni Golan

Journal of Behavioral and Experimental Economics (formerly The Journal of Socio-Economics), 2014, vol. 53, issue C, 111-119

Abstract: This paper explores preferences and choices in the real estate market from a personality perspective. First, we employ micro-level data on individual scores on the Big Five personality test and personal financial real estate preferences to evaluate the role of personality in individual real estate market-related preferences. Empirical results provide solid evidence for an association between personality traits and individual preferences on a series of housing tenure, mortgage, and real estate investment attributes. Moreover, based on cross-sectional state-level aggregate personality scores and macro real estate market indicators, we find evidence indicating that the detected micro-level personality-preferences association conveys macro consequences on real estate market equilibrium outcomes. Research findings thus provide a new perspective for understanding individual preferences and equilibrium outcomes in the real estate market.

Keywords: 3120; 3920; Preferences; Big five; Personality traits; Real estate; Housing; Mortgages; Investments (search for similar items in EconPapers)
JEL-codes: R2 R3 (search for similar items in EconPapers)
Date: 2014
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (3)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:soceco:v:53:y:2014:i:c:p:111-119

DOI: 10.1016/j.socec.2014.08.008

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