Health, insurance, and social capital’s impact on housing debt and assets using a partial least squares structural equation modeling technique

Abstract

settingsOrder Article Reprints Open AccessArticle Health, Insurance, and Social Capital’s Impact on Housing Debt and Assets Using a Partial Least Squares Structural Equation Modeling Technique by Siming Chen 1,2,*,Rita Yi Man Li 1,2ORCID andChi Ho Tang 1,2ORCID 1 Department of Economics and Finance, Hong Kong Shue Yan University, Hong Kong 999077, China 2 Sustainable Real Estate Research Center, Hong Kong Shue Yan University, Hong Kong 999077, China * Author to whom correspondence should be addressed. Buildings 2024, 14(11), 3540; https://doi.org/10.3390/buildings14113540 Submission received: 8 September 2024 / Revised: 12 October 2024 / Accepted: 14 October 2024 / Published: 5 November 2024 (This article belongs to the Special Issue Property Economics in the Post-COVID-19 Era) Downloadkeyboard_arrow_down Browse Figures Versions Notes

Abstract China’s current real estate market transactions are relatively subdued; hence, finding means to repower the engine for further development becomes vital. However, few studies investigated the relationships between family non-economic factors, assets, and housing debt. This study highlights the impact of family members’ health, insurance, and social capital’s impact on housing debt and assets. The family-size data from the China House Finance Survey are analyzed using a partial least squares structural equation model. The results indicate that family members’ poor health and uninsured endowment insurance individuals negatively affect housing debt and family assets. In contrast, the impact of medical insurance is insignificant. Besides, social capital substantially and positively impacts assets and debts. The labor supply and the proportion of kids have a negligible impact. Hence, this study recommends that loan-offering enterprises may change their marketing targets according to family situations, such as health status and insurance coverage. The government might promote endowment insurance and strengthen higher education to revitalize the real estate industry.