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Incomes from Owner-occupied Housing for Working-age and Retirement-age Canadians, 1969 to 2006

Brown, W. Mark Lafrance, Amélie

Economic Analysis (EA) Research Paper Series from Statistics Canada, Analytical Studies Branch

Abstract: Using data from the Survey of Household Spending and from its predecessor, the Survey of Family Expenditures, this paper investigates the relative incomes of retirement-age and working-age Canadians from 1969 to 2006, taking into account both explicit household income and the implicit income generated by owner-occupied housing. Over this 37-year period, the explicit incomes of retirement-age households increased at a more rapid pace than those of working-age households. Implicit income from owner-occupied housing also increased rapidly during this time, matching the rate at which the explicit income of retirement-age households increased. On average, this implicit source of earnings raised the incomes of retirement-age households (aged 70 and over) by 16%. Taking both forms of income into account, the incomes of retirement-age households (aged 70 and over), relative to the incomes of working-age households (aged 40 to 49), increased from 45% in 1969 to 59% in 2006. During this period, Canadians invested in housing assets that provided additional income upon retirement.

Keywords: Income; pensions; spending and wealth; Families; households and housing; Seniors; Household assets; debts and wealth; Household characteristics; Income; pensions and wealth (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-age and nep-ure
Date: 2010-12-09
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