Happy Homeowners Not So Happy?

Is happiness from home-ownership a myth? A new paper from The Wharton School of Business appears to show that homeowners are not happier than renters when it comes to "life satisfaction, overall mood, overall feeling, general moment-to-moment emotions", and in fact, actually derive more pain from their home. The study only deals with single family renters compared to owners, but I think this is a MUST READ (at least the conclusions) for just about every apartment professional! Here are some additional key notes:

1) Homeowners are on average 12 pounds heavier than renters and report less joy in their health.

2) Homeowners spend less time on active leisure.

3) Homeowners spend less time (6 percent) with friends and neighbors, and are less likely to enjoy being with people.

4) Homeowners are not shown to be any more active in civic participation.

Keep in mind that this study was also done in 2005, which was a very positive time for homeowners - imagine the results now!

Source Study: real.wharton.upenn.edu/~wongg/research/T...American%20Dream.pdf

Brent - These stats are GREAT!:laugh: Makes me think of turning some of them into property banners! "Lease! Don't buy! You'll be happier, healthier, and have more friends!"

Thanks, Tara. When I stumbled upon it all I could think about was the industry-wide marketing potential! It really does fly in the face of most traditional thought processes on buy vs rent.