IDEAS home Printed from https://ideas.repec.org/p/tcb/wpaper/1322.html

Home Ownership and Job Satisfaction

Author

Listed:
  • Semih Tumen
  • Tugba Zeydanli

Abstract

This paper investigates the link between job satisfaction and home ownership. We explicitly focus on the effect of a transition from non-ownership to ownership on the self-reported job satisfaction scores. In other words, we concentrate on the change in job satisfaction response for individuals observed right before and after the transition. Utilizing the panel feature of the British Household Panel Survey (BHPS), we find that transition to ownership reduces job satisfaction within a year following the purchase|controlling for observed variation and unobserved heterogeneity. The reduction in job satisfaction is sharper when the purchase is financed through a mortgage. We also test if this pattern persists over years. We show that the initial reduction in job satisfaction is more than doubled within three years after the transition for both categories of ownership. We conclude that home ownership may be a constraint for the career prospects of the employed workers, since it reduces mobility and forces them to become more dependent on the local labor market conditions. These concerns are deeper in case of a debt-financed ownership.

Suggested Citation

  • Semih Tumen & Tugba Zeydanli, 2013. "Home Ownership and Job Satisfaction," Working Papers 1322, Research and Monetary Policy Department, Central Bank of the Republic of Turkey.
    • Handle: RePEc:tcb:wpaper:1322
    as

    Download full text from publisher

    File URL: https://www.tcmb.gov.tr/wps/wcm/connect/EN/TCMB+EN/Main+Menu/Publications/Research/Working+Paperss/2013/13-22
    Download Restriction: no
    ---><---

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Reto Odermatt & Alois Stutzer, 2022. "Does the Dream of Home Ownership Rest Upon Biased Beliefs? A Test Based on Predicted and Realized Life Satisfaction," Journal of Happiness Studies, Springer, vol. 23(8), pages 3731-3763, December.
    2. Rshood M. Al-Khraif & Abdullah N. Al-Mutairi & Khaled O. Alradihan & Asharaf Abdul Salam, 2018. "Retiree home ownership in Saudi Arabia: the role of geographic, demographic, social and economic variables," Journal of Population Research, Springer, vol. 35(2), pages 169-185, June.
    3. Alexi Gugushvili & Martin McKee & Michael Murphy & Aytalina Azarova & Darja Irdam & Katarzyna Doniec & Lawrence King, 2019. "Intergenerational Mobility in Relative Educational Attainment and Health-Related Behaviours," Social Indicators Research: An International and Interdisciplinary Journal for Quality-of-Life Measurement, Springer, vol. 141(1), pages 413-441, January.
    4. Sebastian Will & Timon Renz, 2023. "My Home is My Burden? Homeownership, Financial Burden and Subjective Well-Being in a Unitary Rental Market," Applied Research in Quality of Life, Springer;International Society for Quality-of-Life Studies, vol. 18(5), pages 2227-2257, October.

    More about this item

    Keywords

    ;
    ;
    ;
    ;
    ;

    JEL classification:

    • J28 - Labor and Demographic Economics - - Demand and Supply of Labor - - - Safety; Job Satisfaction; Related Public Policy
    • R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
    • C23 - Mathematical and Quantitative Methods - - Single Equation Models; Single Variables - - - Models with Panel Data; Spatio-temporal Models

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:tcb:wpaper:1322. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sermet Pekin or Ilker Cakar or the person in charge (email available below). General contact details of provider: https://edirc.repec.org/data/tcmgvtr.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.