Incomes from Owner-occupied Housing for Working-age and Retirement-age Canadians, 1969 to 2006
AbstractUsing 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.
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Bibliographic InfoPaper provided by Statistics Canada, Analytical Studies Branch in its series Economic Analysis (EA) Research Paper Series with number 2010066e.
Date of creation: 09 Dec 2010
Date of revision:
Families; households and housing; Household assets; debts and wealth; Household characteristics; Income; pensions and wealth; Income; pensions; spending and wealth; Seniors;
This paper has been announced in the following NEP Reports:
- NEP-AGE-2010-12-23 (Economics of Ageing)
- NEP-ALL-2010-12-23 (All new papers)
- NEP-URE-2010-12-23 (Urban & Real Estate Economics)
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- Pierre-Carl Michaud & Philip Merrigan & Pierre Lefebvre, 2012.
"The Recent Evolution of Retirement Patterns in Canada,"
CIRANO Working Papers
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- Pierre Lefebvre & Philip Merrigan & Pierre-Carl Michaud, 2011. "The Recent Evolution of Retirement Patterns in Canada," Cahiers de recherche 1126, CIRPEE.
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