Chapter

Aging and Housing Equity: Another Look

Steven F. Venti and David A. Wise

in Perspectives on the Economics of Aging

Published by University of Chicago Press

Published in print July 2004 | ISBN: 9780226903057
Published online February 2013 | e-ISBN: 9780226903286 | DOI: http://dx.doi.org/10.7208/chicago/9780226903286.003.0004
Aging and Housing Equity: Another Look

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This chapter examines the change in the home equity of older families as they age, beginning at ages just before retirement. It uses data from the Health and Retirement Study (HRS), the Asset and Health Dynamics Among the Oldest Old (AHEAD) survey, as well as the Survey of Income and Program Participation (SIPP). It distinguishes changes in housing equity that might be thought of as part of a financial plan to use housing equity as a means of general support in retirement from changes in housing equity that are precipitated by family shocks—death or severe illness. The chapter extends the analysis in Steven Venti and David Wise, in which it was found that in the absence of changes in household structure, most elderly families are unlikely to move. The chapter also shows that even among movers, those families that continue to own typically do not reduce home equity.

Keywords: home equity; retirement; Health and Retirement Study; financial plan; family shocks; Steven Venti; David Wise; household structure; elderly families

Chapter.  19325 words.  Illustrated.

Subjects: Economics

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