Intergenerational Coresidence and Life Satisfaction in Old Age: The Moderating Role of Homeownership

Household structure for older people’s subjective well-being is important to promote healthy ageing in the context of the rapid increase of the older population. Living with adult children is known to promote older people’s life satisfaction, a key indicator of subjective well-being, whereas others claim a negative impact of such intergenerational coresidence. This study aims to empirically test these theories (family support vs. family conflict), by examining the role of homeownership–another important factor contributing to subjective well-being–in this association between intergenerational coresidence and life satisfaction. Analysing the nationally representative data on the elderly population in South Korea, the findings showed that intergenerational coresidence decreases life satisfaction when the elderly achieve a certain level of housing security by living in owner-occupied housing. Living with adult children is negatively associated with life satisfaction particularly for older old homeowners compared to younger old owners. Our findings provide implications for public policies promoting intergenerational coresidence and asset-based welfare to enhance older people’s well-being in Korea and more broadly in East Asia.