Predictors of Holding Consumer and Mortgage Debt among Older Americans

Using data from the 2000 Health and Retirement Study (HRS), this study examined the probability of older Americans holding consumer and mortgage debt. The specific objectives of this study were to identify to what extent individuals aged 65 and over hold consumer or mortgage debt and to investigate factors that influence the probability of holding consumer or mortgage debt in old age. The results of logistic regression analysis indicated that older individuals who had larger households, had higher levels of education, were aged 65-74, were married, were Black, and were employed, were more likely to hold consumer or mortgage debt. This study concluded that holding one kind of debt is associated with probability of holding another kind of debt.