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Study links happiness to home ownership

Money may not be able to buy happiness, but it can buy a roof over your head.

And that — to many — is a very good start.

Data compiled by the Organisation for Economic Co-operation and Development suggested a strong link between home ownership and higher levels of well-being worldwide.

In the U.S. — particularly among states in the Midwest and the South — housing was ranked highly by many as being most important to their happiness over other well-being indicators covered in the OECD Better Life Index.

“Appropriate shelter is one of the most basic human needs, along with food and water,” the index read. OECD also said housing is “strongly connected to other well-being dimensions, such as health, income and life satisfaction.”

The OECD Better Life Index covered nine topic areas in all, including housing, income, jobs, education, environment, health, and safety, civic engagement and accessibility of services.

Join Realtor Diane Brennan for That Real Estate Show Sundays at 8 a.m. on KTAR News 92.3 FM.