The effect of house prices on the long-term care market: Evidence from England
Nils Braakmann (),
Gonzalo-Almorox, Eduardo and
John Wildman ()
MPRA Paper from University Library of Munich, Germany
High house prices are often considered to be beneficial for the elderly due to the accumulation of wealth. However, as land is an input in the provision of public services, the elderly might be harmed by them, for example, due to a shortage of local care homes. Alternatively, care home providers might be attracted by asset-rich potential clients, which could lead to a positive effect of house prices on the provision of care. Applying an instrumental variables approach on English data, we show that higher house prices lead to fewer care homes, fewer entries into the market as well as fewer available beds.
Keywords: Care homes; house prices; long-term care; England (search for similar items in EconPapers)
JEL-codes: I11 R31 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age, nep-cta, nep-eur, nep-hea and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:pra:mprapa:81987
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