Effects of Savings on Depressive Symptoms among Homeless People in Korea: Using Propensity Score Matching

AbstractOBJECTIVE:In Korea, the financial crisis that occurred in 1997 increased the homeless population. Since then, mental health issues, particularly depressive symptoms, among the homeless have become a substantial social issue. Prior research documented that asset ownership positively influenced people’s mental health. However, the largely under-researched area is whether asset accumulation has an impact on depressive symptoms along with homeless persons.METHODS:This study investigates the relationship between the saving status and depressive symptoms of homeless people using the 2016 National Survey on Homeless People. To reduce the selection bias, this study employed the propensity score matching method. Further, multivariate logistic regression was performed to determine how the savings level affected depressive symptoms.RESULTS:This study found a negative relationship between the savings level and depressive symptoms after controlling for covariates.CONCLUSION:Our findings suggest that an asset-based policy targeting the homeless may play a crucial role in reducing depressive symptoms and facilitating their self-reliance.