Journal article
Oh, Yes, the Elderly Will Reduce Housing Equity under the Right Circumstances
Journal of housing research, Vol.8(1), pp.53-74
01/01/1997
Abstract
This article analyzes the housing behavior of the elderly with a view to addressing the findings in the empirical literature about elderly households' desire to augment, not liquidate, housing wealth as they age. The evidence discussed shows a clear tendency for elderly households to switch from owning to renting as they age. The switch begins early but becomes more pronounced after age 79. When elderly homeowners move but continue to own, households whose children are economically well off are inclined to liquidate housing wealth (trade down), while households whose children are not doing well tend to accumulate housing wealth (trade up). Moreover, the liquidity constraint does not appear to be the reason that elderly households want to liquidate housing wealth. Our main conclusion is that elderly households liquidate or accumulate housing wealth either for altruistic reasons or out of concern for the well-being of their children.
Details
- Title: Subtitle
- Oh, Yes, the Elderly Will Reduce Housing Equity under the Right Circumstances
- Creators
- Isaac F. MegbolugbeJarjisu Sa-AaduJames D. Shilling
- Resource Type
- Journal article
- Publication Details
- Journal of housing research, Vol.8(1), pp.53-74
- Publisher
- Fannie Mae Foundation
- ISSN
- 1052-7001
- eISSN
- 2691-1337
- Language
- English
- Date published
- 01/01/1997
- Academic Unit
- Finance
- Record Identifier
- 9984380646102771
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