TY - JOUR T1 - Housing Wealth and Retirement Timing JF - Cesifo Economic Studies Y1 - 2016 A1 - Martin P. Farnham A1 - Purvi Sevak KW - Employment and Labor Force KW - Net Worth and Assets KW - Retirement Planning and Satisfaction AB - Labor-supply effects of changes in house value are potentially important but empirically neglected. Using the panel Health and Retirement Study merged to local house prices from the Federal Housing Finance Agency, we estimate the effect of house-price changes on actual and planned retirement timing. While we find no effect of house-price changes on the annual probability of retiring, we find that people respond to rising house prices by revising down their expected retirement age. We estimate that a 10 real increase in house value reduces expected retirement age by about 4 months. Our findings suggest that movements in the housing market may have important labor supply implications, especially in areas experiencing steep price declines. PB - 62 VL - 62 IS - 1 N1 - Times Cited: 0 0 U4 - retirement planning/labor Supply/House price fluctuations/labor Force Participation ER -