Jump to ContentJump to Main Navigation
Demography and the Economy$
Users without a subscription are not able to see the full content.

John B. Shoven

Print publication date: 2011

Print ISBN-13: 9780226754727

Published to Chicago Scholarship Online: February 2013

DOI: 10.7208/chicago/9780226754758.001.0001

Show Summary Details
Page of

PRINTED FROM CHICAGO SCHOLARSHIP ONLINE (www.chicago.universitypressscholarship.com). (c) Copyright University of Chicago Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in CHSO for personal use.date: 27 June 2022

Demographic Trends, Housing Equity, and the Financial Security of Future Retirees

Demographic Trends, Housing Equity, and the Financial Security of Future Retirees

(p.227) 7 Demographic Trends, Housing Equity, and the Financial Security of Future Retirees
Demography and the Economy

James M. Poterba

Steven F. Venti

David A. Wise

University of Chicago Press

This chapter explores one of the largest asset categories for present and future retirees, namely the equity in their homes. For most people, the big three asset categories in retirement are social security wealth, pension accumulations, and home equity. This chapter does similar cohort analyses for home equity. It is found that the likelihood of home ownership by age changed very little over the past twenty-five years for married couples, single women, and single men. It is well known that most retirees stay in their home and retain their home equity until late in retirement, when shocks such as the death of a spouse or entry into a nursing home may cause the home to be sold. In a way, the house serves as a “rainy day fund” for potential life changes or expensive developments later in life. This raises the natural question about whether home equity is a safe store of wealth for the rainy day fund.

Keywords:   demographic trends, housing/home equity, financial security, future retirees, social security wealth, pension accumulations, cohort analyses, rainy day fund

Chicago Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs, and if you can't find the answer there, please contact us.