Home Ownership, House Prices, and Belief in Meritocracy

Evidence from South Korea and 34 Countries

Datos Bibliográficos

ID6345003
AutoresSeungwoo Han (0000-0003-4180-6169, Division of Global Affairs, Rutgers, The State University of New Jersey, New Brunswick, NJ, USA), Hyeok Yong Kwon (0000-0003-4986-4312, Korea University, autor de correspondencia)
Año2024
Volumen72
Número3
Páginas1071-1089
Fecha de publicación2024-08-01
Peer ReviewedSí
Open AccessSí
TipoARTICLE
RevistaPolitical Studies (JOURNAL)
Identificadores de la revistaISSN: 0032-3217 • E-ISSN: 1467-9248
EditorialSAGE Publications Inc (PUBLISHER)
DOI10.1177/00323217231176677
OpenAlexW4379515081
IdiomaEN
Citas recibidas19
Referencias citadas41

Do home ownership and house prices impact the shaping of individual perceptions on inequality and belief in meritocracy? We argue that home ownership and rising asset prices increase the salience of an individual’s own relative economic position, which in turn facilitates belief in meritocracy. We expect that, when house prices increase, homeowners are likely to strengthen their belief in meritocracy and defend their position by rationalizing that income distribution in society is fair and that economic success and failure are primarily determined by individual efforts. Our analysis of both a Korean panel survey and a cross-national survey finds strong and robust evidence of the asset price effect. Our findings suggest that the housing price effect on economic ideology is a general pattern, which implies that there are social and political consequences to the asset price effect

Asset (computer security · Economics · Ideology · Inequality · Labour economics · Market economy · Meritocracy · Political science · Politics · Position (finance · Salience (neuroscience · Finance · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Income, Poverty, and Inequality · Law