Home Ownership and Subjective Wellbeing: A Perspective from Ownership Heterogeneity

This study examines the relationship between home ownership status and individual subjective wellbeing in urban China. Using data from the Chinese General Social Survey, this study finds that home ownership is positively associated with one’s overall happiness, which is consistent with previous findings reported in the literature. Importantly, we find that the association between home ownership and subjective wellbeing varies across ownership types. Joint ownership wherein property is jointly owned by spouses is associated with higher levels of happiness relative to sole ownership wherein property is solely owned by the husband or the wife. In terms of sole ownership, property rights held by a spouse is associated with higher happiness compared with that held by oneself. We also explore mechanisms through which joint ownership provides an increased sense of security in marriage and marrying a home owner increases one’s social class. In addition, we find that owning a home increases the happiness of households with male offspring, whereas it exerts a negative effect on households with female offspring.