Brigitte Madrian, Olivia S. Mitchell, and Beth J. Soldo (eds)
- Published in print:
- 2007
- Published Online:
- September 2007
- ISBN:
- 9780199230778
- eISBN:
- 9780191710971
- Item type:
- book
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780199230778.001.0001
- Subject:
- Business and Management, Pensions and Pension Management
As the leading edge of the “Baby Boom” generation in the United States reaches sixty years of age, members of this unusually large cohort born between 1946 and 1966 are poised to redefine retirement ...
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As the leading edge of the “Baby Boom” generation in the United States reaches sixty years of age, members of this unusually large cohort born between 1946 and 1966 are poised to redefine retirement — just as they have restructured educational, housing, and labor markets previously. Looking ahead, their numbers and energy are sure to have a major impact on national pensions, healthcare, and social safety nets. This book notes that “Boomers” will be better off than their predecessors in many ways, having benefited from the long run-up in housing prices, dramatic improvements in healthcare, and the expanding economy. On the other hand, the generation's sheer size will surely squeeze resources and require new approaches to retirement risk management. On average, the Boomers are in better financial and physical health than prior cohorts, and they can be anticipated to fare better than current retirees in absolute terms. Yet the distribution of retiree income and wealth will be less equal than in earlier years, and in relative terms, many Boomers will be less well off than their forebears. The chapters in this book use many invaluable models and datasets, including the incomparable Health and Retirement Study (HRS) which affords unique insights into the status of mature adults surveyed at the same age and hence same point in their life cycles, but at three different time periods. Chapter contributors offer new evidence about prospects for health and income during retirement, as well as pensions and housing equity, health, portfolio allocation, and financial literacy.Less
As the leading edge of the “Baby Boom” generation in the United States reaches sixty years of age, members of this unusually large cohort born between 1946 and 1966 are poised to redefine retirement — just as they have restructured educational, housing, and labor markets previously. Looking ahead, their numbers and energy are sure to have a major impact on national pensions, healthcare, and social safety nets. This book notes that “Boomers” will be better off than their predecessors in many ways, having benefited from the long run-up in housing prices, dramatic improvements in healthcare, and the expanding economy. On the other hand, the generation's sheer size will surely squeeze resources and require new approaches to retirement risk management. On average, the Boomers are in better financial and physical health than prior cohorts, and they can be anticipated to fare better than current retirees in absolute terms. Yet the distribution of retiree income and wealth will be less equal than in earlier years, and in relative terms, many Boomers will be less well off than their forebears. The chapters in this book use many invaluable models and datasets, including the incomparable Health and Retirement Study (HRS) which affords unique insights into the status of mature adults surveyed at the same age and hence same point in their life cycles, but at three different time periods. Chapter contributors offer new evidence about prospects for health and income during retirement, as well as pensions and housing equity, health, portfolio allocation, and financial literacy.
James M. Poterba, Steven F. Venti, and David A. Wise
- Published in print:
- 2011
- Published Online:
- February 2013
- ISBN:
- 9780226754727
- eISBN:
- 9780226754758
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226754758.003.0008
- Subject:
- Economics and Finance, Macro- and Monetary Economics
This chapter explores one of the largest asset categories for present and future retirees, namely the equity in their homes. For most people, the big three asset categories in retirement are social ...
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This chapter explores one of the largest asset categories for present and future retirees, namely the equity in their homes. For most people, the big three asset categories in retirement are social security wealth, pension accumulations, and home equity. This chapter does similar cohort analyses for home equity. It is found that the likelihood of home ownership by age changed very little over the past twenty-five years for married couples, single women, and single men. It is well known that most retirees stay in their home and retain their home equity until late in retirement, when shocks such as the death of a spouse or entry into a nursing home may cause the home to be sold. In a way, the house serves as a “rainy day fund” for potential life changes or expensive developments later in life. This raises the natural question about whether home equity is a safe store of wealth for the rainy day fund.Less
This chapter explores one of the largest asset categories for present and future retirees, namely the equity in their homes. For most people, the big three asset categories in retirement are social security wealth, pension accumulations, and home equity. This chapter does similar cohort analyses for home equity. It is found that the likelihood of home ownership by age changed very little over the past twenty-five years for married couples, single women, and single men. It is well known that most retirees stay in their home and retain their home equity until late in retirement, when shocks such as the death of a spouse or entry into a nursing home may cause the home to be sold. In a way, the house serves as a “rainy day fund” for potential life changes or expensive developments later in life. This raises the natural question about whether home equity is a safe store of wealth for the rainy day fund.
James Banks, Richard Blundell, and James P. Smith
- Published in print:
- 2004
- Published Online:
- February 2013
- ISBN:
- 9780226903057
- eISBN:
- 9780226903286
- Item type:
- chapter
- Publisher:
- University of Chicago Press
- DOI:
- 10.7208/chicago/9780226903286.003.0006
- Subject:
- Economics and Finance, Behavioural Economics
This chapter documents and attempts to explain differences in household wealth distributions between the United States and the United Kingdom, with an emphasis on the quite different portfolios held ...
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This chapter documents and attempts to explain differences in household wealth distributions between the United States and the United Kingdom, with an emphasis on the quite different portfolios held in stock and housing equities in the two countries. As a proportion of their total wealth, British households hold relatively small amounts of financial assets—including equities in stock—compared to American households. In contrast, British households appear to move into home ownership at relatively young ages, and a large fraction of their household wealth is concentrated in housing. Finally, the age gradient in home equity appears to be much steeper in the United Kingdom whereas U.S. households exhibit a steeper age gradient in stock equity. Moreover, these portfolio differences between the two countries are not temporally static, as important changes have been taking place in both countries in their housing and equity markets.Less
This chapter documents and attempts to explain differences in household wealth distributions between the United States and the United Kingdom, with an emphasis on the quite different portfolios held in stock and housing equities in the two countries. As a proportion of their total wealth, British households hold relatively small amounts of financial assets—including equities in stock—compared to American households. In contrast, British households appear to move into home ownership at relatively young ages, and a large fraction of their household wealth is concentrated in housing. Finally, the age gradient in home equity appears to be much steeper in the United Kingdom whereas U.S. households exhibit a steeper age gradient in stock equity. Moreover, these portfolio differences between the two countries are not temporally static, as important changes have been taking place in both countries in their housing and equity markets.
Stuart Lowe
- Published in print:
- 2017
- Published Online:
- January 2020
- ISBN:
- 9781447326274
- eISBN:
- 9781447326328
- Item type:
- chapter
- Publisher:
- Policy Press
- DOI:
- 10.1332/policypress/9781447326274.003.0005
- Subject:
- Political Science, Comparative Politics
This chapter focuses on the globalisation and liberalisation of mortgage markets. What has happened is that the mortgage market has become a conduit between global finance and the everyday. The home ...
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This chapter focuses on the globalisation and liberalisation of mortgage markets. What has happened is that the mortgage market has become a conduit between global finance and the everyday. The home has become financialised in ways that were impossible before banking deregulation. For homeowners, the ability to unlock housing equity has been a widely used practice almost since the start of the deregulated mortgage market in the 1980s. This has created a super-commodified realm at the heart of the competition state. The democratisation of access to capital also required a new citizenship contract based around norms of risk taking and self-provisioning. More than this, however, homeowners are predisposed to support low-tax public policy because of the front-loading of housing costs.Less
This chapter focuses on the globalisation and liberalisation of mortgage markets. What has happened is that the mortgage market has become a conduit between global finance and the everyday. The home has become financialised in ways that were impossible before banking deregulation. For homeowners, the ability to unlock housing equity has been a widely used practice almost since the start of the deregulated mortgage market in the 1980s. This has created a super-commodified realm at the heart of the competition state. The democratisation of access to capital also required a new citizenship contract based around norms of risk taking and self-provisioning. More than this, however, homeowners are predisposed to support low-tax public policy because of the front-loading of housing costs.
Michael D. Stein and Sandro Galea
- Published in print:
- 2020
- Published Online:
- April 2020
- ISBN:
- 9780197510384
- eISBN:
- 9780197510414
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/oso/9780197510384.003.0043
- Subject:
- Public Health and Epidemiology, Epidemiology, Public Health
This chapter explores the importance of housing for public health. There are ample data linking poor housing conditions to a broad range of infectious diseases, chronic diseases, injuries, childhood ...
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This chapter explores the importance of housing for public health. There are ample data linking poor housing conditions to a broad range of infectious diseases, chronic diseases, injuries, childhood development and nutrition issues, and mental health concerns. In addition, the burden of poor housing is not distributed evenly across populations. Families with fewer resources are likelier to live in unhealthy homes, and they are less likely to be able to improve the condition of their living situations. Moreover, high housing costs often put families and individuals in the position of having to trade between healthy housing and other basic necessities, such as food or medication. Structural forces perpetuate housing inequities. Landlords and real estate agents have contributed to racial/ethnic segregation by blocking minorities from moving to predominately white neighborhoods, which often leads to the exclusion of minorities from high-quality housing, schools, and other public services. Further, predominantly minority communities receive less investment from lenders to improve housing quality and neighborhood environments. Thus, improving housing must mean improving housing equity, so that all can access the benefits of having a safe, healthy place to live.Less
This chapter explores the importance of housing for public health. There are ample data linking poor housing conditions to a broad range of infectious diseases, chronic diseases, injuries, childhood development and nutrition issues, and mental health concerns. In addition, the burden of poor housing is not distributed evenly across populations. Families with fewer resources are likelier to live in unhealthy homes, and they are less likely to be able to improve the condition of their living situations. Moreover, high housing costs often put families and individuals in the position of having to trade between healthy housing and other basic necessities, such as food or medication. Structural forces perpetuate housing inequities. Landlords and real estate agents have contributed to racial/ethnic segregation by blocking minorities from moving to predominately white neighborhoods, which often leads to the exclusion of minorities from high-quality housing, schools, and other public services. Further, predominantly minority communities receive less investment from lenders to improve housing quality and neighborhood environments. Thus, improving housing must mean improving housing equity, so that all can access the benefits of having a safe, healthy place to live.
Sonya Salamon and Katherine MacTavish
- Published in print:
- 2017
- Published Online:
- May 2018
- ISBN:
- 9781501713217
- eISBN:
- 9781501709685
- Item type:
- chapter
- Publisher:
- Cornell University Press
- DOI:
- 10.7591/cornell/9781501713217.003.0008
- Subject:
- Anthropology, American and Canadian Cultural Anthropology
This chapter provides an overview of policy strategies intended to curb, or balance financial and social aspects of homeownership and park life with the structure and profitability of the mobile-home ...
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This chapter provides an overview of policy strategies intended to curb, or balance financial and social aspects of homeownership and park life with the structure and profitability of the mobile-home industrial complex. Strategies at the federal, state and local levels are considered. Less
This chapter provides an overview of policy strategies intended to curb, or balance financial and social aspects of homeownership and park life with the structure and profitability of the mobile-home industrial complex. Strategies at the federal, state and local levels are considered.
