- A method to measure consumers' housing consumption and
investment attitudes according to various dimensions was initiated.
In addition, construct validity of the measurement instrument was
initiated through use of personal variables.
Two scales were developed to measure homeownership consumption
and investment attitudes. The dimensions of homeownership consumption
and investment found in a review of the literature and
selected for use in the scales were as follows: consumption dimensions
including space, tenure, structure, quality, and neighborhood; and
investment dimensions including taxes, equity, rate of return, leverage,
and risk. The research instrument included 35 Likert ranked
statements for each scale or a total of 7 0 statements plus the questionnaire.
The data were collected in May and June, 1980, from 222
homeowners in Linn County, Oregon, who responded to the research
Reliability of scale statements was determined by item-analysis
and Cronbach alpha. Statistical tests which included Pearson correlation,
analysis of variance, and stepwise multiple regression were used
to determine if relationships existed among Homeownership Consumption
Scale mean scores, Homeownership Investment Scale mean
scores, and various independent variables: housing satisfaction, number
of rooms, total gross household income, social status, homeownership
experience, investment experience, and recall of parents'
The internal-consistency method of item-analysis was used to
insure consistency in scoring direction of each scale item. Cronbach
alpha was computed for reliability of the Homeownership Consumption
Scale (.71273) and the Homeownership Investment Scale (.68323).
There was a positive linear relationship between the Homeownership
Consumption Scale mean score and the Homeownership Investment
Scale mean score (r=.2846, p=. 001). Housing satisfaction level was
the only independent variable explaining differences among Homeownership
Consumption Scale mean scores when using a one-way
analysis of variance test of significance (p ≤ . 05). Five of the seven
independent variables were positively related to Homeownership
Investment Scale mean scores when using a one-way analysis of variance
test of significance (p ≤. 05): number of rooms in dwelling, level
of total gross household income, level of social status, level of
investment experience, and recall of level of parents' investment
experience. In a stepwise multiple regression model, 15.83 percent
of the variation in Homeownership Investment Scale mean scores was
explained by social status, recall of parents' investment experiences,
and housing satisfaction.
An understanding of the consumer characteristics shown to be
related to homeownership consumption and investment decisions is
important to educators, government officials, and others who influence
housing programs, policies, and the housing environment. Clarification
of the positive dual role between housing consumption and
investment should ultimately lead to more satisfactory housing decisions
on the part of consumers.