Homeownership in old age and at the time of death

Gary V. Engelhardt and Michael Eriksen

Economics Letters, 2022, vol. 212, issue C

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%).

Keywords: Elderly homeownership; Bequests (search for similar items in EconPapers)
Date: 2022
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Persistent link: https://EconPapers.repec.org/RePEc:eee:ecolet:v:212:y:2022:i:c:s0165176522000362

DOI: 10.1016/j.econlet.2022.110340

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