Housing Equity Withdrawal and Retirement: Evidence from the Household, Income, and Labor Dynamics in Australia Survey (HILDA)

Abstract

This chapter focuses on housing equity withdrawal and retirement, which is a life course event typically associated with an abrupt drop in income. The research approach exploits the Household, Income and Labour Dynamics in Australia Survey (HILDA) survey question that asks baby boomer homeowners whether they intend to sell up or move to cheaper accommodation in order to help finance retirement. The chapter reviews the literature with the emphasis on economic models of consumption and saving, and their implications for how and when housing wealth is accumulated and released. It describes data sources and variable measures and profile the personal characteristics of those planning to “roll out” housing equity as part of their retirement plans. The chapter presents results from regression models that test various hypotheses about what motivates plans to release housing wealth to help finance retirement. A concluding section summarizes and outlines future directions for research. Controlled Vocabulary Terms Housing; regression; Retirement

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