How Racial Differences in Housing Returns Shape Retirement Security
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The Wharton School::Wharton Pension Research Council::Wharton Pension Research Council Working Papers
Degree type
Discipline
Economics
Subject
Housing
segregation
discrimination
wealth
inequality
segregation
discrimination
wealth
inequality
Funder
Grant number
Copyright date
2023
Distributor
Related resources
Author
Kermani, Amir
Wong, Francis
Contributor
Abstract
Housing is a key resource for US retirees, comprising two-fifths of the net wealth of retirementage Americans, and those who experience higher housing returns improves retirement security. Following a home sale, a one percentage point increase in annual returns raises subsequent homeownership rates by about one percentage point (about 2.5%). While migrating homeowners who had higher returns move to neighborhoods with more favorable health care, longevity impacts, and crime rates, these benefits are substantially larger for White homeowners relative to Black and Hispanic homeowners. We emphasize the importance of policies that target disparities that occur prior to retirement.
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Date Range for Data Collection (Start Date)
Date Range for Data Collection (End Date)
Digital Object Identifier
Series name and number
WP2023-20
Publication date
2023-09