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Homeownership in old age and at the time of death

Author

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  • Engelhardt, Gary V.
  • Eriksen, Michael D.

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%).

Suggested Citation

  • Engelhardt, Gary V. & Eriksen, Michael D., 2022. "Homeownership in old age and at the time of death," Economics Letters, Elsevier, vol. 212(C).
    • Handle: RePEc:eee:ecolet:v:212:y:2022:i:c:s0165176522000362
    DOI: 10.1016/j.econlet.2022.110340
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    References listed on IDEAS

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    4. Steven F. Venti & David A. Wise, 2004. "Aging and Housing Equity: Another Look," NBER Chapters, in: Perspectives on the Economics of Aging, pages 127-180, National Bureau of Economic Research, Inc.
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    Keywords

    Elderly homeownership; Bequests;

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