Tuesday, 23 June 2009 by Dr Maytel
Women who own their home weigh 12 pounds more on average than women who rent. A study at the University of Pennsylvania's Wharton School compared 600 women and found that along with weighing more, homeowners were also "carrying around more aggravation, making less time for leisure, and were less likely to spend time with friends. Grace Wong Bucchianeri, an assistant professor of real estate at the University of Pennsylvania's Wharton School, conducted the study and says that female homeowners "consistently report a higher level of pain — or what you might call negative feelings — connected to their home, and that's after controlling for all kinds of demographic characteristics, their financial situation, how many children they have and so on." She believes that homeowners spend more time working on their home instead of leisure activities like exercising. The study is currently under review for publication in the Journal of Urban Economics.
I suppose that is some comfort for Hock and I who are looking to buy in the only country in the world where real estate is still going up. Perhaps we will spend a little longer paying rent to the fat cats.