The Elephant In The Room Property Podcast | Inside Australian Real Estate 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:
- Get free and unlimited access to the Palgrave Handbook of Positive Education https://link.springer.com/book/10.1007%2F978-3-030-64537-3
- Find out more about Peggy’s work at: http://www.peggykern.org/
- Connect with Peggy on LinkedIn: https://www.linkedin.com/in/peggy-kern-b1955223/
Resources:
- Buying a new house: Will it actually make you happy? https://bit.ly/3pQuLgn
- Visit our website https://www.theelephantintheroom.com.au
- If you have any questions or would like to be featured on our show, contact us at:
- The Elephant in the Room Property Podcast - questions@theelephantintheroom.com.au
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