|Title||Aging and Housing Equity: Another Look|
|Publication Type||Book Chapter|
|Year of Publication||2004|
|Authors||Venti, SF, Wise, DA|
|Book Title||Perspectives on the Economics of Aging|
|Publisher||University of Chicago Press|
|Keywords||Adult 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.
ProCite field 6 : In ProCite field 8 : ed.
|Endnote Keywords|| |
Home Ownership/Family Structure/Housing Equity/Economic Status
|Endnote ID|| |
|Endnote Author Address|| |
Revision of NBER Working Paper No. 8608
|Short Title||Aging and Housing Equity: Another Look|