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More Work or More Leisure? Housing Matters

Author

Listed:
  • Yan Zhao

    (East China University of Science and Technology)

  • Jiayuan Cai

    (East China University of Science and Technology)

  • Feifan Chen

    (East China University of Science and Technology)

  • Victor Song

    (East China University of Science and Technology)

Abstract

We contribute to the growing number of studies in the literature that focus on the effects of housing on labor in two ways by using the case of China. First, we add leisure consumption, and second, a heterogeneity analysis. Using survey data from 2017, we find that, overall, housing value appreciation significantly reduces labor force participation. However, once the sample is broken down into housing ownership and region, the heterogeneity analysis shows something different. Specifically, for housing renters in high housing price regions, their engagement in the labor market decreases with housing appreciation, which is also true for housing owners. This conclusion is corroborated by a study on leisure, in which leisure is shown to be increasing with housing appreciation, especially for renters in high housing price regions. Our results support the claim that rapidly increasing housing prices might be an important cause for the “lying flat” phenomenon in China.

Suggested Citation

  • Yan Zhao & Jiayuan Cai & Feifan Chen & Victor Song, 2025. "More Work or More Leisure? Housing Matters," International Real Estate Review, Global Social Science Institute, vol. 28(1), pages 1-20.
    • Handle: RePEc:ire:issued:v:28:n:01:2025:p:1-20
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    References listed on IDEAS

    as
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    3. Mark Aguiar & Erik Hurst, 2007. "Measuring Trends in Leisure: The Allocation of Time Over Five Decades," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 122(3), pages 969-1006.
    4. Liu, Shimeng & Zhang, Sisi, 2021. "Housing wealth changes and entrepreneurship: Evidence from urban China," China Economic Review, Elsevier, vol. 69(C).
    Full references (including those not matched with items on IDEAS)

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