Aging and Housing Equity: Another Look

TitleAging and Housing Equity: Another Look
Publication TypeBook Chapter
Year of Publication2004
AuthorsVenti, SF, Wise, DA
EditorWise, DA
Book TitlePerspectives on the Economics of Aging
PublisherUniversity of Chicago Press
Call Numberwp_2001/venti-wise_NBER8608.pdf
KeywordsAdult children, Housing, Net Worth and Assets

Prior research has shown that except for Social Security and employer-provided pension assets, housing equity is the most important asset of a large fraction of older Americans. These assets are the primary source of retirement consumption. This paper looks at the change in the home equity of older families as they age. The two ways for households to change home equity are by discontinuing home ownership- an action that seems to be fairly unlikely- or by selling and moving to another home. Findings suggest that housing equity increases with age until about age 75 and then declines slightly as households grow older. In general, home equity should not be counted on to support general non-housing consumption needs as households grow older.


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Endnote Keywords

Home Ownership/Family Structure/Housing Equity/Economic Status

Endnote ID


Endnote Author Address

Revision of NBER Working Paper No. 8608

Short TitleAging and Housing Equity: Another Look
Citation Key5138