Wei Guoxu, Zhu He, Han Sheng, Chen Jing, Shi Luwen
Department of Pharmacy Administration and Clinical Pharmacy, School of Pharmaceutical Sciences, Peking University, Beijing, 100191, China.
International Research Center for Medicinal Administration, Peking University Health Science Center, Beijing, 100191, China.
SSM Popul Health. 2020 Nov 19;13:100696. doi: 10.1016/j.ssmph.2020.100696. eCollection 2021 Mar.
Housing boom has raised global attention in the past two decades. A number of studies attempted to analyse the effect of house price increase. However, little is known about the health consequence as a result of housing boom, likely due to the scarcity of the data. The objective of this paper is to investigate the relationship between housing affordability and mental health as a result of house price increase.
Based on a panel dataset of 32 Chinese cities from January 2013 to December 2017, we used a fixed effect model adjusting for per capita disposable income to estimate the impact of house price growth rate on mental health, and applied the Instrumental Variable (IV) method to address the endogeneity problem.
From both Ordinary Least Squares (OLS) and IV estimations, the results suggested that a one standard deviation increase in house price increase rate in the past three months is associated with a 0.443 standard deviation increase in people consulting with doctors about their mental disorders in the city. This effect does not vary by gender, but was more pronounced in residents older than 40 years.
These results revealed the potential negative consequences in people's mental health due to house price increase, necessitate appropriate policy responses.
在过去二十年中，房地产热潮引起了全球关注。许多研究试图分析房价上涨的影响。然而，由于数据稀缺，对于房地产热潮所带来的健康后果知之甚少。本文的目的是研究房价上涨导致的住房可负担性与心理健康之间的关系。
基于2013年1月至2017年12月中国32个城市的面板数据集，我们使用固定效应模型并对人均可支配收入进行调整，以估计房价增长率对心理健康的影响，并应用工具变量（IV）方法来解决内生性问题。
从普通最小二乘法（OLS）和IV估计来看，结果表明，过去三个月房价增长率每增加一个标准差，城市中因精神障碍咨询医生的人数就会增加0.443个标准差。这种影响在性别上没有差异，但在40岁以上的居民中更为明显。
这些结果揭示了房价上涨对人们心理健康的潜在负面影响，需要采取适当的政策应对措施。
