TY - RPRT T1 - What Is The Impact Of Foreclosures On Retirement Security? Y1 - 2010 A1 - Irena Dushi A1 - Friedberg, Leora A1 - Anthony Webb KW - Net Worth and Assets AB - Using data from several sources, we show that households nearing retirement have lower rates of housing distress than younger households, as measured by arrears and foreclosure rates. However, almost all of the housing wealth gains observed for cohorts aged 51-56 between 1992 and 2004 were erased by 2010, while their mortgages have grown throughout. As a consequence, their loan-to-value ratios are considerably higher, though the percentage paying more than 30 percent of their household income towards their mortgage remains flat. Worrisomely, their financial wealth also declined between 2004 and 2010. Declines in house prices will adversely affect households that need to liquidate housing wealth, and rising mortgage obligations will increase pressure on retirement resources. We develop an econometric model to show factors associated with housing distress and then use the results to forecast housing distress among older households through 2012. We project that the risk of arrears will increase to 3.4 percent in 2010 and 4.4 percent by 2012. We also find that 6.7 percent of HRS households have children or other relatives who are facing housing distress, potentially putting further pressure on their retirement preparedness. PB - Center for Retirement Research at Boston College UR - http://www.policyarchive.org/handle/10207/bitstreams/95949.pdf U4 - housing wealth/mortgage obligation/foreclosure rates ER - TY - RPRT T1 - What Effect Do Time Constraints Have on the Age of Retirement? Y1 - 2008 A1 - Friedberg, Leora A1 - Wei Sun A1 - Anthony Webb KW - Employment and Labor Force KW - Net Worth and Assets KW - Retirement Planning and Satisfaction AB - Work affects both the time available for non-market activities and the times at which those activities are performed and therefore work-induced constraints on time use may influence retirement decisions. We analyze these effects by combining new data from the American Time Use Survey with information on retirement in the Health and Retirement Study. We find that the propensity to engage in three types of non-work activities household production, leisure, and tertiary activities (eating, sleeping, grooming) are substantially altered by work. Moreover, the ways in which the timing of these activities are distorted differ across ten different job types (industry-occupation combinations) that we examine in the ATUS. We use the resulting measures of time distortions as control variables in multinomial logit retirement models that we estimate in the HRS. Older workers in jobs with greater distortions to the quantity and timing of leisure activities have an increased propensity to leave those jobs, either for new jobs or for retirement. On the other hand, workers in jobs with greater distortions to household production have a reduced propensity to leave their jobs, and distortions to tertiary activities raise the propensity to take new jobs but reduce the propensity to retire. JF - Center for Retirement Research at Boston College Working Papers PB - Center for Retirement Research at Boston College CY - Boston UR - https://crr.bc.edu/working-papers/what-effect-do-time-constraints-have-on-the-age-of-retirement/ U4 - Household Production/Leisure/Working Hours/Retirement planning ER -