Predictors of Holding Consumer and Mortgage Debt among Older Americans

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Predictors of Holding Consumer and Mortgage Debt among Older Americans

Author Info

Yoon Lee ()
Jean Lown ()
Deanna Sharpe ()

Abstract

Using data from the 2000 Health and Retirement Study (HRS), this study examined the probability of older Americans holding consumer and mortgage debt. The specific objectives of this study were to identify to what extent individuals aged 65 and over hold consumer or mortgage debt and to investigate factors that influence the probability of holding consumer or mortgage debt in old age. The results of logistic regression analysis indicated that older individuals who had larger households, had higher levels of education, were aged 65–74, were married, were Black, and were employed, were more likely to hold consumer or mortgage debt. This study concluded that holding one kind of debt is associated with probability of holding another kind of debt. Copyright Springer Science+Business Media, LLC 2007

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Article provided by Springer in its journal Journal of Family and Economic Issues.

Volume (Year): 28 (2007)
Issue (Month): 2 (June)
Pages: 305-320
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Handle: RePEc:kap:jfamec:v:28:y:2007:i:2:p:305-320

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References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:

James P. Smith, 2004. "Wealth Inequality Among Older Americans," Labor and Demography 0403003, EconWPA. [Downloadable!]

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Cited by:
(explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)

Diann Moorman & Steven Garasky, 2008. "Consumer Debt Repayment Behavior as a Precursor to Bankruptcy," Journal of Family and Economic Issues, Springer, vol. 29(2), pages 219-233, June. [Downloadable!] (restricted)
Christine Lai, 2008. "How Retired Households and Households Approaching Retirement Handle Their Equity Investments in the United States," Journal of Family and Economic Issues, Springer, vol. 29(4), pages 601-622, December. [Downloadable!] (restricted)
Aydogan Ulker, 2009. "Wealth Holdings and Portfolio Allocation of the Elderly: The Role of Marital History," Journal of Family and Economic Issues, Springer, vol. 30(1), pages 90-108, March. [Downloadable!] (restricted)

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