Exploring the Rise of Mortgage Borrowing among Older Americans

J. Michael Collins, Erik Hembre and Carly Urban

Working Papers, Center for Retirement Research at Boston College from Center for Retirement Research

Abstract: This paper documents and examines the rise in mortgage usage among older Americans over the past 30 years. It uses data from a variety of sources including the Health and Retirement Study, Decennial Census, American Community Survey, Survey of Consumer Finances, and the American Housing Survey. We begin by documenting the large increase in mortgage usage among older Americans across age and income distributions. We then use regression analysis to test for causes of the mortgage increase and subgroup heterogeneity, in particular focusing on changing health, bequest motives, and tax policy incentives.

Pages: 44 pages
Date: 2018-05
New Economics Papers: this item is included in nep-age and nep-ure
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Persistent link: https://EconPapers.repec.org/RePEc:crr:crrwps:wp2018-3

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