Home ownership belief debunked
"Owning a home is not a recipe for happiness." Image: bobainsworth/iStockphoto An Australian study led by the University of Adelaide has debunked the belief that owning a home is a recipe for happiness.In a study involving more than 10,000 people over a six-year period, researchers found that while home owners are happier, wealthier and better educated than renters, home ownership in itself does not lead to improved mental health.Lead researcher Dr Emma Baker from the Centre for Housing, Urban and Regional Planning (CHURP) at the University of Adelaide says this simple finding is important."Many studies have established major differences between home owners and renters but our findings suggest that happier and healthier people are able to afford a mortgage," Dr Baker says."Renting in itself does not make people unhappy either, but higher proportions of unhappy people end up renting because of their circumstances."In a country like Australia, most people aspire to home...