Title | Homeownership in old age and at the time of death |
Publication Type | Journal Article |
Year of Publication | 2022 |
Authors | Engelhardt, GV, Eriksen, MD |
Journal | Economics Letters |
Volume | 212 |
Pagination | 110340 |
ISSN Number | 0165-1765 |
Keywords | Bequests, Elderly homeownership |
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—40%–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%). |
DOI | 10.1016/j.econlet.2022.110340 |
Citation Key | ENGELHARDT2022110340 |