Individual Payoffs and the Effect of Homeownership on Social Capital Investment

Eric Fesselmeyer and Kiat Ying Seah

Journal of Housing Research, 2018, vol. 27, issue 1, 59-78

Abstract: We revisit the relation between homeownership and social capital investment with confidential individual-level panel data from Los Angeles County. Using anticipated real wage change as an instrument for ownership, we find strong evidence that homeownership increases participation in block meetings, and find no homeownership effect on three other activities: volunteerism, participation in a local political organization, and participation in a civic group. These results are confirmed in fixed effects models. Our results support a pecuniary motive: that homeownership increases social capital investment when such investments are perceived to generate gains solely for homeowners.

Date: 2018
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Working Paper: Individual Payoffs and the Effect of Homeownership on Social Capital Investment (2017)
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DOI: 10.1080/10835547.2018.12092141

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