Beyond Homeownership? Examining the Mediating Role of Housing Tenure on Young People’s Subjective Well-Being

Young people around the world are facing similar housing challenges, trapped between a costly and unaffordable homeownership sector and an unstable (private) rental sector. China has opted to promote renting as an alternative to homeownership to alleviate the housing difficulties of young people in big cities. However, the influences of promoting rental housing on the subjective well-being of different groups have not been well understood. Therefore, this study examines the mediating role of housing tenure in the relationship between individual attributes and subjective well-being. The study is based on 1,149 questionnaires conducted on the housing situations of residents in Guangzhou, and 618 samples were extracted for analysis based on the purpose of this study. It is found that individual, marital status, (local/nonlocal) hukou status, and income level have significant indirect effects on subjective well-being, with housing tenure as the mediator. This study contributes to a deeper understanding of the influencing mechanisms of subjective well-being associated with housing tenure and human heterogeneity and specifies the key points for future research and policymaking.