The Elephant in the Room
The property podcast for the thinking person.

Episodes

Episode 283: An Expert’s Revelation: The Unexpected Link Between Homeownership and Happiness

How closely are our homes tied to our overall sense of wellbeing? Is it true that homeowners experience greater happiness compared to renters? We're about to uncover the truth behind this common assumption.

While owning a home can offer stability and a sense of control over our living environment, it is not without its challenges. Financial stress and the responsibility of property maintenance can dampen the initial excitement. So, how long does the satisfaction of homeownership last before we yearn for something more?

In today's episode, we are honored to have Dr. Peggy Kern, an esteemed associate professor at the Centre for Wellbeing Science within the University of Melbourne's Graduate School of Education to help us uncover the complexities beyond the simplistic notion that homeowners are content and renters are dissatisfied.

Tune in to gain valuable insights into the connection between homeownership and happiness and have a deeper understanding of how our living arrangements can impact our overall well being.

Episode Highlights:

00:00 - Is homeownership connected to our sense of wellbeing?

01:24 - Who is Dr. Peggy Kern?

02:16 - How do we measure our well being or happiness? 

04:14 - Explaining the hedonic treadmill and how it relates to homeownership

11:53 - Factors that contribute to the emotional rollercoaster of homeownership

15:08 - The pros and cons of short-term vs long-term thinking

19:13 - Tips for getting into a long-term thinking mindset

23:32 - Common factors found among centenarians that could be contributory to their long life

25:37 - Fact or myth? It takes longer to bounce back from negative experiences

30:56 - How pursuing a dopamine hit impacts decision-making when it comes to property

37:17 - Does one's affluence paradoxically coexist with unhappiness?

39:39 - How important is financial stability to one’s well being?

42:10 - Factors that influence one's perspective on downsizing

43:45 - How can housing choices impact overall happiness and satisfaction?

50:41 - Peggy Kern’s property dumbo

About Our Guest:

Dr. Peggy Kern is an associate professor at the Centre for Wellbeing Science within the University of Melbourne's Graduate School of Education. Originally trained in social, personality, and developmental psychology, Peggy received her undergraduate degree in psychology from Arizona State University, a Masters and Ph.D. in social/personality psychology from the University of California and postdoctoral training in positive psychology at the University of Pennsylvania. Her research focuses on understanding, measuring, and supporting wellbeing across the lifespan. She works with schools and workplaces to examine strategies for supporting wellbeing, and bridging gaps between research and practice. She has published 3 books, over 100 peer-reviewed articles and chapters, and the freely available Palgrave Handbook of Positive Education.

Connect with Peggy Kern:

Resources:

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Chris Batesde-index