Making use of Home Equity
| Autor(a) principal: | |
|---|---|
| Data de Publicação: | 2019 |
| Outros Autores: | , |
| Tipo de documento: | Artigo |
| Idioma: | eng |
| Título da fonte: | Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) |
| Texto Completo: | https://www.iza.org/publications/dp/12656/making-use-of-home-equity-the-potential-of-housing-wealth-to-enhance-retirement-security |
Resumo: | Holzmann, R., Ayuso, M., & Bravo, J. M. (2019). Making use of Home Equity: The Potential of Housing Wealth to Enhance Retirement Security. (IZA Discussion Papers; No. 12656). IZA. Institute of Labor Economics. |
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Making use of Home EquityThe Potential of Housing Wealth to Enhance Retirement SecurityEquity release schemesHousing wealthReverse mortgageHomeownershipRetirement incomePensions adequacyHolzmann, R., Ayuso, M., & Bravo, J. M. (2019). Making use of Home Equity: The Potential of Housing Wealth to Enhance Retirement Security. (IZA Discussion Papers; No. 12656). IZA. Institute of Labor Economics.The demographic change underway, declining adequacy levels from traditional pay-as-you-go old-age social security systems, structural reforms in pension schemes and the reduction in the traditional family support have increased the need for additional private savings to cover the old age income gap. In this paper we discuss the necessity, the role and the viability of home equity release schemes in supplementing public and private pensions in an integrated way. We use the latest European data from the Eurosystem Household Finance and Consumption Survey (HFCS) to analyse the household's wealth composition and accumulation process in the euro area. To quantify the size of the housing wealth and its potential to enhance existing and future retirement income, we compute the equity-to-value ratio (ETV) for all countries, estimate the time to loan payoff and compute the amount of home equity that is expected to be released over a 10-year period through regular monthly mortgage payments. We then catalogue and discuss the many alternative options for managing and accessing housing wealth over the life cycle, and highlight the main characteristics, risks, advantages and drawbacks of the two most important market products (home reversion plans and reverse mortgages). Finally, we discuss the main demandside and supply-side obstacles and challenges to the development of equity release markets and extract some policy implications.IZA. Institute of Labor EconomicsNOVA Information Management School (NOVA IMS)Information Management Research Center (MagIC) - NOVA Information Management SchoolRUNHolzmann, RobertAyuso, MercedesBravo, Jorge Miguel2019-10-15T23:29:27Z2019-072019-07-01T00:00:00Zinfo:eu-repo/semantics/publishedVersioninfo:eu-repo/semantics/article32application/pdfhttps://www.iza.org/publications/dp/12656/making-use-of-home-equity-the-potential-of-housing-wealth-to-enhance-retirement-securityeng2365-9793PURE: 15024461https://www.iza.org/publications/dp/12656/making-use-of-home-equity-the-potential-of-housing-wealth-to-enhance-retirement-securityinfo:eu-repo/semantics/openAccessreponame:Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos)instname:Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãoinstacron:RCAAP2024-03-11T04:37:39Zoai:run.unl.pt:10362/84439Portal AgregadorONGhttps://www.rcaap.pt/oai/openaireopendoar:71602024-03-20T03:36:29.390199Repositório Científico de Acesso Aberto de Portugal (Repositórios Cientìficos) - Agência para a Sociedade do Conhecimento (UMIC) - FCT - Sociedade da Informaçãofalse |
| dc.title.none.fl_str_mv |
Making use of Home Equity The Potential of Housing Wealth to Enhance Retirement Security |
| title |
Making use of Home Equity |
| spellingShingle |
Making use of Home Equity Holzmann, Robert Equity release schemes Housing wealth Reverse mortgage Homeownership Retirement income Pensions adequacy |
| title_short |
Making use of Home Equity |
| title_full |
Making use of Home Equity |
| title_fullStr |
Making use of Home Equity |
| title_full_unstemmed |
Making use of Home Equity |
| title_sort |
Making use of Home Equity |
| author |
Holzmann, Robert |
| author_facet |
Holzmann, Robert Ayuso, Mercedes Bravo, Jorge Miguel |
| author_role |
author |
| author2 |
Ayuso, Mercedes Bravo, Jorge Miguel |
| author2_role |
author author |
| dc.contributor.none.fl_str_mv |
NOVA Information Management School (NOVA IMS) Information Management Research Center (MagIC) - NOVA Information Management School RUN |
| dc.contributor.author.fl_str_mv |
Holzmann, Robert Ayuso, Mercedes Bravo, Jorge Miguel |
| dc.subject.por.fl_str_mv |
Equity release schemes Housing wealth Reverse mortgage Homeownership Retirement income Pensions adequacy |
| topic |
Equity release schemes Housing wealth Reverse mortgage Homeownership Retirement income Pensions adequacy |
| description |
Holzmann, R., Ayuso, M., & Bravo, J. M. (2019). Making use of Home Equity: The Potential of Housing Wealth to Enhance Retirement Security. (IZA Discussion Papers; No. 12656). IZA. Institute of Labor Economics. |
| publishDate |
2019 |
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2019-10-15T23:29:27Z 2019-07 2019-07-01T00:00:00Z |
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info:eu-repo/semantics/publishedVersion |
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info:eu-repo/semantics/article |
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article |
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publishedVersion |
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https://www.iza.org/publications/dp/12656/making-use-of-home-equity-the-potential-of-housing-wealth-to-enhance-retirement-security |
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https://www.iza.org/publications/dp/12656/making-use-of-home-equity-the-potential-of-housing-wealth-to-enhance-retirement-security |
| dc.language.iso.fl_str_mv |
eng |
| language |
eng |
| dc.relation.none.fl_str_mv |
2365-9793 PURE: 15024461 https://www.iza.org/publications/dp/12656/making-use-of-home-equity-the-potential-of-housing-wealth-to-enhance-retirement-security |
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info:eu-repo/semantics/openAccess |
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openAccess |
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32 application/pdf |
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IZA. Institute of Labor Economics |
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IZA. Institute of Labor Economics |
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