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Military experience and mortgage stress

Author

Listed:
  • Hu, Mingzhi
  • Su, Yinxin

Abstract

This study investigates the relationship between military service and mortgage stress. Utilizing data from the Panel Study of Income Dynamics (PSID), our analysis reveals that veterans exhibit a higher likelihood of experiencing mortgage stress compared to non-veterans. We explore potential mechanisms underlying this association, finding evidence that mental health deterioration and unemployment may contribute to increased mortgage stress among veterans. Furthermore, our results indicate that the effect is attenuated for younger households and those with college education. This research contributes to the literature on the socioeconomic consequences of military service by elucidating the pathways through which military experience influences financial stability. Our findings have important implications for the development of targeted financial support programs and policies aimed at mitigating mortgage stress among veterans.

Suggested Citation

  • Hu, Mingzhi & Su, Yinxin, 2025. "Military experience and mortgage stress," International Review of Financial Analysis, Elsevier, vol. 104(PA).
    • Handle: RePEc:eee:finana:v:104:y:2025:i:pa:s1057521925003242
    DOI: 10.1016/j.irfa.2025.104237
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    More about this item

    Keywords

    Military experience; Mortgage stress; Mental health; Employment;
    All these keywords.

    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand

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