@article {ENGELHARDT2022110340,
	title = {Homeownership in old age and at the time of death},
	journal = {Economics Letters},
	volume = {212},
	year = {2022},
	pages = {110340},
	abstract = {We construct estimates of U.S. homeownership rates as individuals age and die, using exit-interview data from the Health and Retirement Study. Homeownership falls to under 8\% among the oldest old (centenarians). However, most Americans do not live that long{\textemdash}40\%{\textendash}50\% die as homeowners. For those, 16\% of housing assets are spent down in the final 16 months of life. The remainder is transferred to surviving spouses (52\%) and other heirs (32\%).},
	keywords = {Bequests, Elderly homeownership},
	issn = {0165-1765},
	doi = {10.1016/j.econlet.2022.110340},
	author = {Gary V. Engelhardt and Michael D. Eriksen}
}
@article {11389,
	title = {Intended Bequests and Housing Equity in Older Age},
	number = {WP$\#$2021-2},
	year = {2021},
	institution = {Center for Retirement Research at Boston College},
	address = {Boston, MA},
	abstract = {This paper examines how homeownership evolves in old age and around the time of death, using detailed data from the Health and Retirement Study to assess the extent to which housing wealth held by older Americans might be used to complement Social Security in the provision of retirement income. Critical components of the analysis include the use of rich information on medical diagnoses, functional status, and bequest intentions in a competing-risks proportional hazard model of the likelihood of making a tenure transition out of homeownership, where death is the competing risk.

The paper found that:

The age profile of homeownership falls to under 10 percent among the oldest old, which in past studies has been a sufficient statistic for life-cycle behavior.For a baseline sample of homeowners, roughly half transition to renting before death; the other half die as homeowners.Health shock and bequest intentions play important roles in explaining why the elderly fail to spend housing wealth via tenure transitions.
 
The policy implications of the findings are:

Along with entitlements to Social Security and employer-provided pensions, housing is the most important asset in elderly portfolios, so that housing might supplement the retirement income of future retirees.The annual flow of housing bequests is about 4 percent of the aggregate housing value held by older Americans.About 80 percent of aggregate housing wealth of those 62 and older may be available to support consumption in retirement net of intended bequests.
},
	keywords = {Bequests, Homeownership},
	url = {https://crr.bc.edu/working-papers/intended-bequests-and-housing-equity-in-older-age/},
	author = {Gary V. Engelhardt and Michael D. Eriksen}
}
@article {6520,
	title = {The Impact of Employment on Parental Coresidence},
	journal = {Real Estate Economics},
	volume = {47},
	year = {2019},
	pages = {1055-1088},
	type = {Journal},
	abstract = {We examine the extent to which parents use housing and shared living arrangements as a form of risk-sharing for their adult children, using detailed data on children and parents in the Health and Retirement Study for 1998 2012. On average, a young man moving from full-time to nonemployment raises the likelihood of coresiding with a parent by 1.5 percentage points; moving from full-time employment to being part-time employed raises the likelihood of coresiding with a parent by 2 percentage points. The implied elasticity of parental coresidence with respect to the son{\textquoteright}s income is -1.1; for daughters, the elasticity is -0.5.},
	keywords = {Adult children, Employment and Labor Force, Other},
	doi = {10.1111/1540-6229.12152},
	url = {http://dx.doi.org/10.1111/1540-6229.12152},
	author = {Gary V. Engelhardt and Michael D. Eriksen and Nadia Greenhalgh-Stanley}
}
@article {11035,
	title = {The Role of Parents on the Home Ownership Experience of Their Children: Evidence from the Health and Retirement Study},
	number = {2017-001},
	year = {2019},
	institution = {University of Cincinnati},
	address = {Cincinnati, OH},
	abstract = {We construct matched panel data sets of adult children with their parents to study the role of lagged parental attributes on subsequent home ownership decisions between 2000 and 2012. Earlier research has demonstrated inter-generational wealth transfers from parents to children are an important source of upfront equity used to purchase a first home, although parental attributes are often omitted as determinants of tenure due to data limitations. A significant role is found for lagged parental wealth on the ability of adult children to become and remain home owners over this period. Endowed differences in parental wealth are estimated to account for the largest explainable share of the white/non-white gap in becoming a homeowner, and maintaining home ownership once attained.},
	keywords = {Foreclosure, Home ownership, Household Formation, Inter-Generational Transfers},
	doi = {http://dx.doi.org/10.2139/ssrn.3044708},
	author = {Bond, Shaun A and Michael D. Eriksen}
}
@article {8197,
	title = {Home safety, accessibility, and elderly health: Evidence from falls},
	journal = {Journal of Urban Economics},
	volume = {87},
	year = {2015},
	note = {Export Date: 29 May 2015},
	pages = {14-24},
	publisher = {87},
	abstract = {This article presents estimates of the impact of home safety and accessibility features on the prevention of serious, non-fatal falls for elderly widowed individuals. As these features are not randomly assigned across homes, we develop an instrumental variable (IV) strategy that relies on the differential decline in the health and functional status of spouses to identify impacts. Specifically, we use the deceased spouse{\textquoteright}s functional status when alive, as measured by limits to Activities of Daily Living (ADLs), as an IV for the presence of home safety and accessibility features for the surviving spouse in the years after widowhood, and then estimate the effect of these features on the likelihood of a serious fall for the widow using rich longitudinal data from the Health and Retirement Study. The presence of such features reduces the likelihood of a fall requiring medical treatment by 20 percentage points, a substantial effect. However, falls are not the type of health shock that is a main driver of housing tenure transitions among the elderly. Although somewhat speculative, cost-benefit estimates suggest that investments in home safety for the elderly may generate in the short run as much as a dollar-for-dollar reduction in medical expenditures.   2015 Elsevier Inc.},
	keywords = {Demographics, Health Conditions and Status, Housing},
	doi = {10.1016/j.jue.2015.02.003},
	url = {http://www.scopus.com/inward/record.url?eid=2-s2.0-84925115488andpartnerID=40andmd5=23c0b0e89704119885a5a625aeca4bc0},
	author = {Michael D. Eriksen and Nadia Greenhalgh-Stanley and Gary V. Engelhardt}
}
@article {5980,
	title = {A Profile of Housing and Health Among Older Americans},
	year = {2013},
	institution = {Washington, DC, Research Institute for Housing America},
	abstract = {With the aging of America, policy concerns at the intersection of housing and health for older Americans are growing. In a signal study a decade ago, the Commission on Affordable Housing and Health  Facility Needs for Seniors in the 21st Century, also known as the Seniors Housing Commission, released  its report to Congress on the challenges facing all levels of government and society in ensuring support for housing and health needs as the population ages.    This paper examines the housing and health status of older Americans roughly a decade after the  Commission s report. It provides a profile of the housing, functional status and health status of the  near old, individuals aged 55 through 64, and Americans aged 65 and older, using the most recent  data available from the Health and Retirement Study (HRS). These data were drawn from interviews  with approximately 25,000 Americans in 2010, as the nation was slowly transitioning out of the Great  Recession. The paper is designed to lay out basic facts about the current state of housing and health  among older Americans, and should be a useful statistical reference for policymakers, advocates and  media interested in these issues in an aging society.},
	keywords = {Housing, Public Policy},
	author = {Gary V. Engelhardt and Michael D. Eriksen and Nadia Greenhalgh-Stanley}
}
