Homeownership in the Older Population

Abstract

The rise of homeownership in the elderly population from 1940 to 1980 is investigated within the framework of compositional analysis. Recent cohorts have arrived at old age at higher levels of ownership than was previously the case. Using data on all individuals, significant compositional effects on homeownership were found. Changes in the process of homeownership retention have led to higher levels of home ownership among the elderly, but these are comparatively small and became relatively less influential in the latter half of the period investigated. Changes in income distribution and living arrangements accounted for virtually all the increase in homeownership. Developments in living arrangements among the elderly are linked to the increase in homeownership.