House Prices, Home Equity and Health

John Gathergood and Eleonora Fichera

Discussion Papers from University of Nottingham, School of Economics

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; wealth. JEL classification: I10; I13 (search for similar items in EconPapers)
Date: 2012-07
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Working Paper: House Prices, Home Equity and Health (2013)
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