House price expectations, mortgages, and subjective well‐being in urban China
This study aims at investigating the roles of house price expectations and mortgages in urban dwellers' subjective well‐being (SWB) in China. Using 3,717 urban householder respondents collected in the 2011 China Household Finance Survey and categorizing the sample into three subsamples: homeown...
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| Veröffentlicht in: | The Journal of consumer affairs 2021-12, Vol.55 (4), p.1540-1562 |
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| container_title | The Journal of consumer affairs |
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| creator | Su, Zhifang Huang, Jr‐Tsung Lin, Arthur Jin |
| description | This study aims at investigating the roles of house price expectations and mortgages in urban dwellers' subjective well‐being (SWB) in China. Using 3,717 urban householder respondents collected in the 2011 China Household Finance Survey and categorizing the sample into three subsamples: homeowners without and with a home loan, and nonhomeowners, the ordered logit models of the ordinal‐dependent variable SWB with and without considering the endogeneity problem are estimated using these three subsamples separately. The primary finding is that house price expectations have a negative influence on the likelihood of having a better SWB only for homeowners without a home loan. However, more houses can mitigate this negative influence. For homeowners with a home loan, mortgages have a negative impact on the likelihood of having a better SWB. Finally, the Beijing sample based on the 2017 data also supports the influences of house price expectations and mortgages on SWB. |
| doi_str_mv | 10.1111/joca.12334 |
| format | Article |
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Using 3,717 urban householder respondents collected in the 2011 China Household Finance Survey and categorizing the sample into three subsamples: homeowners without and with a home loan, and nonhomeowners, the ordered logit models of the ordinal‐dependent variable SWB with and without considering the endogeneity problem are estimated using these three subsamples separately. The primary finding is that house price expectations have a negative influence on the likelihood of having a better SWB only for homeowners without a home loan. However, more houses can mitigate this negative influence. For homeowners with a home loan, mortgages have a negative impact on the likelihood of having a better SWB. Finally, the Beijing sample based on the 2017 data also supports the influences of house price expectations and mortgages on SWB.</description><identifier>ISSN: 0022-0078</identifier><identifier>EISSN: 1745-6606</identifier><identifier>DOI: 10.1111/joca.12334</identifier><language>eng</language><publisher>Malden, USA: Wiley Periodicals, Inc</publisher><subject>Expectations ; Home loans ; Home ownership ; house price expectations ; Households ; Mortgages ; ordered logit model ; Prices ; Respondents ; subjective well‐being ; Well being</subject><ispartof>The Journal of consumer affairs, 2021-12, Vol.55 (4), p.1540-1562</ispartof><rights>Copyright 2020 by The American Council on Consumer Interests</rights><rights>2021 by The American Council on Consumer Interests</rights><lds50>peer_reviewed</lds50><woscitedreferencessubscribed>false</woscitedreferencessubscribed><citedby>FETCH-LOGICAL-c3344-dde8614a382acf83da70a6c462f16cddac7fc3a8cd72bb0529f4697fa4cf3a283</citedby><cites>FETCH-LOGICAL-c3344-dde8614a382acf83da70a6c462f16cddac7fc3a8cd72bb0529f4697fa4cf3a283</cites></display><links><openurl>$$Topenurl_article</openurl><openurlfulltext>$$Topenurlfull_article</openurlfulltext><thumbnail>$$Tsyndetics_thumb_exl</thumbnail><linktopdf>$$Uhttps://onlinelibrary.wiley.com/doi/pdf/10.1111%2Fjoca.12334$$EPDF$$P50$$Gwiley$$H</linktopdf><linktohtml>$$Uhttps://onlinelibrary.wiley.com/doi/full/10.1111%2Fjoca.12334$$EHTML$$P50$$Gwiley$$H</linktohtml><link.rule.ids>314,776,780,1411,27843,27901,27902,45550,45551</link.rule.ids></links><search><creatorcontrib>Su, Zhifang</creatorcontrib><creatorcontrib>Huang, Jr‐Tsung</creatorcontrib><creatorcontrib>Lin, Arthur Jin</creatorcontrib><title>House price expectations, mortgages, and subjective well‐being in urban China</title><title>The Journal of consumer affairs</title><description>This study aims at investigating the roles of house price expectations and mortgages in urban dwellers' subjective well‐being (SWB) in China. 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Finally, the Beijing sample based on the 2017 data also supports the influences of house price expectations and mortgages on SWB.</description><subject>Expectations</subject><subject>Home loans</subject><subject>Home ownership</subject><subject>house price expectations</subject><subject>Households</subject><subject>Mortgages</subject><subject>ordered logit model</subject><subject>Prices</subject><subject>Respondents</subject><subject>subjective well‐being</subject><subject>Well being</subject><issn>0022-0078</issn><issn>1745-6606</issn><fulltext>true</fulltext><rsrctype>article</rsrctype><creationdate>2021</creationdate><recordtype>article</recordtype><sourceid>7TQ</sourceid><recordid>eNp9kMFOwzAMhiMEEmNw4QkicUN0OGmXtMepAgaatAucIzdNRquuHcnK2I1H4Bl5EjLKGV9syZ_92z8hlwwmLMRt3WmcMB7HyREZMZlMIyFAHJMRAOcRgExPyZn3NQDjIGFElvOu94ZuXKUNNR8bo7e4rbrW39B157YrXJlQYltS3xd16Fbvhu5M03x_fhWmale0amnvCmxp_lq1eE5OLDbeXPzlMXm5v3vO59Fi-fCYzxaRDrclUVmaVLAE45SjtmlcogQUOhHcMqHLErW0OsZUl5IXBUx5ZhORSYuJtjHyNB6Tq2HvxnVvvfFbVXe9a4Ok4gIylk0lh0BdD5R2nffOWBUeXaPbKwbqYJg6GKZ-DQswG-Bd1Zj9P6R6WuazYeYH-R1u8w</recordid><startdate>20211201</startdate><enddate>20211201</enddate><creator>Su, Zhifang</creator><creator>Huang, Jr‐Tsung</creator><creator>Lin, Arthur Jin</creator><general>Wiley Periodicals, Inc</general><general>Blackwell Publishing Ltd</general><scope>AAYXX</scope><scope>CITATION</scope><scope>7TQ</scope><scope>DHY</scope><scope>DON</scope></search><sort><creationdate>20211201</creationdate><title>House price expectations, mortgages, and subjective well‐being in urban China</title><author>Su, Zhifang ; Huang, Jr‐Tsung ; Lin, Arthur Jin</author></sort><facets><frbrtype>5</frbrtype><frbrgroupid>cdi_FETCH-LOGICAL-c3344-dde8614a382acf83da70a6c462f16cddac7fc3a8cd72bb0529f4697fa4cf3a283</frbrgroupid><rsrctype>articles</rsrctype><prefilter>articles</prefilter><language>eng</language><creationdate>2021</creationdate><topic>Expectations</topic><topic>Home loans</topic><topic>Home ownership</topic><topic>house price expectations</topic><topic>Households</topic><topic>Mortgages</topic><topic>ordered logit model</topic><topic>Prices</topic><topic>Respondents</topic><topic>subjective well‐being</topic><topic>Well being</topic><toplevel>peer_reviewed</toplevel><toplevel>online_resources</toplevel><creatorcontrib>Su, Zhifang</creatorcontrib><creatorcontrib>Huang, Jr‐Tsung</creatorcontrib><creatorcontrib>Lin, Arthur Jin</creatorcontrib><collection>CrossRef</collection><collection>PAIS Index</collection><collection>PAIS International</collection><collection>PAIS International (Ovid)</collection><jtitle>The Journal of consumer affairs</jtitle></facets><delivery><delcategory>Remote Search Resource</delcategory><fulltext>fulltext</fulltext></delivery><addata><au>Su, Zhifang</au><au>Huang, Jr‐Tsung</au><au>Lin, Arthur Jin</au><format>journal</format><genre>article</genre><ristype>JOUR</ristype><atitle>House price expectations, mortgages, and subjective well‐being in urban China</atitle><jtitle>The Journal of consumer affairs</jtitle><date>2021-12-01</date><risdate>2021</risdate><volume>55</volume><issue>4</issue><spage>1540</spage><epage>1562</epage><pages>1540-1562</pages><issn>0022-0078</issn><eissn>1745-6606</eissn><abstract>This study aims at investigating the roles of house price expectations and mortgages in urban dwellers' subjective well‐being (SWB) in China. Using 3,717 urban householder respondents collected in the 2011 China Household Finance Survey and categorizing the sample into three subsamples: homeowners without and with a home loan, and nonhomeowners, the ordered logit models of the ordinal‐dependent variable SWB with and without considering the endogeneity problem are estimated using these three subsamples separately. The primary finding is that house price expectations have a negative influence on the likelihood of having a better SWB only for homeowners without a home loan. However, more houses can mitigate this negative influence. For homeowners with a home loan, mortgages have a negative impact on the likelihood of having a better SWB. Finally, the Beijing sample based on the 2017 data also supports the influences of house price expectations and mortgages on SWB.</abstract><cop>Malden, USA</cop><pub>Wiley Periodicals, Inc</pub><doi>10.1111/joca.12334</doi><tpages>23</tpages></addata></record> |
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| ispartof | The Journal of consumer affairs, 2021-12, Vol.55 (4), p.1540-1562 |
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| language | eng |
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| source | Wiley-Blackwell Journals; PAIS Index; Business Source Complete |
| subjects | Expectations Home loans Home ownership house price expectations Households Mortgages ordered logit model Prices Respondents subjective well‐being Well being |
| title | House price expectations, mortgages, and subjective well‐being in urban China |
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