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An Empirical Analysis of the Housing Decisions of Older Homeowners

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  • Peter G. VanderHart

Abstract

This paper examines the effects of finanacial, demographic and housing variables on older homeowners' propensity to make a variety of housing changes. Pooled cross‐sectional data from the Panel Study of Income Dynamics is used in a multinomial logit framework. The results indicate that demographic factors are much more important than financial factors in explaining housing changes by older homeowners.

Suggested Citation

  • Peter G. VanderHart, 1994. "An Empirical Analysis of the Housing Decisions of Older Homeowners," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 22(2), pages 205-233, June.
    • Handle: RePEc:bla:reesec:v:22:y:1994:i:2:p:205-233
    DOI: 10.1111/1540-6229.00633
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    References listed on IDEAS

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    1. Axel Borsch-Supan & Vassilis Hajivassiliou & Laurence J. Kotlikoff, 1992. "Health, Children, and Elderly Living Arrangements: A Multiperiod-Multinomial Probit Model with Unobserved Heterogeneity and Autocorrelated Errors," NBER Chapters, in: Topics in the Economics of Aging, pages 79-108, National Bureau of Economic Research, Inc.
    2. David T. Ellwood & Thomas J. Kane, 1989. "The American Way of Aging: An Event History Analysis," NBER Working Papers 2892, National Bureau of Economic Research, Inc.
    3. Alan M. Garber & Thomas E. MaCurdy, 1989. "Predicting Nursing Home Utilization Among the High-Risk Elderly," NBER Working Papers 2843, National Bureau of Economic Research, Inc.
    4. Jonathan Feinstein & Daniel McFadden, 1989. "The Dynamics of Housing Demand by the Elderly: Wealth, Cash Flow, and Demographic Effects," NBER Chapters, in: The Economics of Aging, pages 55-92, National Bureau of Economic Research, Inc.
    5. repec:hoo:wpaper:e-89-1 is not listed on IDEAS
    6. Laurence J. Kotlikoff & John N. Morris, 1990. "Why Don't the Elderly Live with Their Children? A New Look," NBER Chapters, in: Issues in the Economics of Aging, pages 149-172, National Bureau of Economic Research, Inc.
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    Cited by:

    1. VanderHart, Peter G., 1998. "The Housing Decisions of Older Households: A Dynamic Analysis," Journal of Housing Economics, Elsevier, vol. 7(1), pages 21-48, March.
    2. Declan French & Donal McKillop & Tripti Sharma, 2017. "Analysis of Housing Equity Withdrawal by its Forms," CHaRMS Working Papers 17-04, Centre for HeAlth Research at the Management School (CHaRMS).
    3. Jones, Lawrence D., 1997. "The Tenure Transition Decision For Elderly Homeowners," Journal of Urban Economics, Elsevier, vol. 41(2), pages 243-263, March.
    4. Kwan Ok Lee & Gary Painter, 2014. "Housing Tenure Transitions of Older Households: What is the Role of Child Proximity?," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 42(1), pages 109-152, March.
    5. Sefa Awaworyi Churchill & Siew Ling Yew & Thi Minh Thu Nguyen, 2022. "Health status and housing tenure decisions of older Australians," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(4), pages 966-989, December.
    6. Painter, Gary & Lee, KwanOk, 2009. "Housing tenure transitions of older households: Life cycle, demographic, and familial factors," Regional Science and Urban Economics, Elsevier, vol. 39(6), pages 749-760, November.
    7. Xun Bian & Zhenguo Lin, 2022. "Housing debt and elderly housing tenure choices," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 50(5), pages 1360-1397, September.

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