| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w13693 |
| 来源ID | Working Paper 13693 |
| Net Worth and Housing Equity in Retirement | |
| Todd Sinai; Nicholas S. Souleles | |
| 发表日期 | 2007-12-20 |
| 出版年 | 2007 |
| 语种 | 英语 |
| 摘要 | This paper documents the trends in the life-cycle profiles of net worth and housing equity between 1983 and 2004. The net worth of older households significantly increased during the housing boom of recent years. However, net worth grew by more than housing equity, in part because other assets also appreciated at the same time. Moreover, the younger elderly offset rising house prices by increasing their housing debt, and used some of the proceeds to invest in other assets. We also consider how much of their housing equity older households can actually tap, using reverse mortgages. This fraction is lower at younger ages, such that young retirees can consume less than half of their housing equity. These results imply that 'consumable' net worth is smaller than standard calculations of net worth. |
| 主题 | Macroeconomics ; Consumption and Investment ; Financial Economics ; Portfolio Selection and Asset Pricing ; Financial Institutions ; Labor Economics ; Demography and Aging ; Regional and Urban Economics |
| URL | https://www.nber.org/papers/w13693 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/571369 |
| 推荐引用方式 GB/T 7714 | Todd Sinai,Nicholas S. Souleles. Net Worth and Housing Equity in Retirement. 2007. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w13693.pdf（285KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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