Housing Choices and Mortgage Financing Options for Seniors

Karen Lahey, Melinda Newman and Doseong Kim

Journal of Real Estate Portfolio Management, 2006, vol. 12, issue 2, 103-118

Abstract: Executive Summary.Why would an individual or couple who are age 55 or older have a mortgage on their primary residence or second home? Life-cycle financial patterns of behavior suggest that mortgages should be paid-off by this age. The purpose of this study is to examine the option of seniors to finance their primary residence and/or second home and the resulting difference(s), if any, in their asset allocations. Results indicate that the majority of seniors do have a mortgage. Based on probit and regression analyses, respondents are more likely to have a mortgage if they have a higher market value for their primary residence, a home equity line of credit, a second home, are not retired, and/or have a lower level of liquid assets.

Date: 2006
References: Add references at CitEc
Citations:

Downloads: (external link)
http://hdl.handle.net/10.1080/10835547.2006.12089757 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:taf:repmxx:v:12:y:2006:i:2:p:103-118

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/repm20

DOI: 10.1080/10835547.2006.12089757

Access Statistics for this article

Journal of Real Estate Portfolio Management is currently edited by Peng Liu and Vivek Sah

More articles in Journal of Real Estate Portfolio Management from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().