 Housing tenure transitions of older households: Life cycle, demographic, and familial factorsGary Painter and Kwan Ok Lee () Regional Science and Urban Economics, 2009, vol. 39, issue 6, 749-760 Abstract: Understanding the housing choices of the older households will grow in importance as the baby boom generation starts to retire. This analysis utilizes a rich longitudinal data set (PSID) to provide insight into the reasons why older households make housing transitions. Because of the richness of the data, this analysis is able to control for life transitions, a household's income and wealth, and connection to one's children in predicting when a homeowner makes a housing transition. The results demonstrate that age is not related directly to housing tenure choice for older households. Instead, having lower health status and being a single head of household is the important predictor of housing tenure transitions. At the same time, very few life changing events immediately lead a homeowner to become a renter, although they do influence the decision to downsize or consumer home equity. Finally, living next to one's children lowers the probability of becoming a renter or downsizing, and having richer children increases the probability of downsizing and thereby consuming one's housing wealth. Keywords: Housing; transitions; Elderly; housing; Baby; boom (search for similar items in EconPapers) Downloads: (external link) Related works: Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text Persistent link: https://EconPapers.repec.org/RePEc:eee:regeco:v:39:y:2009:i:6:p:749-760 Access Statistics for this article Regional Science and Urban Economics is currently edited by D.P McMillen and Y. Zenou More articles in Regional Science and Urban Economics from Elsevier |
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