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Exploring the Rise of Mortgage Borrowing among Older Americans

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  • J. Michael Collins
  • Erik Hembre
  • Carly Urban

Abstract

This paper documents and examines the rise in mortgage usage among older Americans over the past 30 years. It uses data from a variety of sources including the Health and Retirement Study, Decennial Census, American Community Survey, Survey of Consumer Finances, and the American Housing Survey. We begin by documenting the large increase in mortgage usage among older Americans across age and income distributions. We then use regression analysis to test for causes of the mortgage increase and subgroup heterogeneity, in particular focusing on changing health, bequest motives, and tax policy incentives.

Suggested Citation

  • J. Michael Collins & Erik Hembre & Carly Urban, 2018. "Exploring the Rise of Mortgage Borrowing among Older Americans," Working Papers, Center for Retirement Research at Boston College wp2018-3, Center for Retirement Research.
    • Handle: RePEc:crr:crrwps:wp2018-3
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    File URL: http://crr.bc.edu/working-papers/exploring-the-rise-of-mortgage-borrowing-among-older-americans/
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    Cited by:

    1. Kimberly A. Berg & Chadwick C. Curtis & Steven Lugauer & Nelson C. Mark, 2021. "Demographics and Monetary Policy Shocks," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 53(6), pages 1229-1266, September.

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