The Moderating Effect of Personal Assets in the Relationships between Subjective Health, Housing Expense, and Life Satisfaction for Korean Middle and Old-Aged

Abstract

The proportion of the elderly in Korea has increased. Given the circumstances, this research is intended to explore the characteristics of the elderly. The aim of this research is to explore the antecedents of life satisfaction in the Korean elderly using subjective health. Next, the goal of this research is to appraise the moderating effect of personal assets in the relationship between life satisfaction and housing expenses. The study data consist of 7199 observations from the 2018 and 2020 waves of the Korean Longitudinal Study of Aging (KLOSA). This research uses econometric analysis to test the research hypotheses, which include ordinary least squares, fixed-effects, and random-effects regression analyses. Following ordinary least squares, fixed-effects, and random-effects regression analyses, the results indicate a positive influence of subjective health on older Koreans' life satisfaction. Additionally, personal assets positively moderate the association between housing expense and life satisfaction, the most valuable finding of the study. This research sheds light on the literature by revealing the moderating effect on the relationship between housing expense and life satisfaction. Moreover, the results could be used for better policy design with respect to the middle- and old-aged members Korean society.