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All (3) ((3 results))

  • Articles and reports: 11F0027M2010064
    Geography: Canada
    Description:

    This paper estimates the implicit income generated by the home equity of working-age and retirement-age households. In so doing, it expands our understanding of Canadians' preparation for retirement by taking into account the services that homeowners realize as a result of having invested in their homes. On the basis of both the 2006 Survey of Household Spending and the 2006 Census of Population, we find that housing services make an important contribution to household income. When estimates of the services provided by the equity invested in housing are added to traditional estimates of income, the income of retirement-age households is increased by 9% to 12% for those in the 60-to-69 age class and by 12% to 15% for those in the 70-plus age class. In turn, this additional income reduces the difference in income between working-age and retirement-age households that own their own homes. According to the Survey of Household Spending, net incomes decline by about 45% between the peak household earning years and the 70-plus retirement-age class. This figure is reduced to 42% when the contribution of housing services is taken into account. The Census provides a similar picture: the gap in incomes is 38% when net income alone is considered and 35% when one accounts for housing services.

    Release date: 2010-07-26

  • Articles and reports: 11F0019M2010325
    Geography: Canada
    Description:

    Homeownership affects investment, consumption, and savings decisions of households, and plays a major role in post-retirement well-being. This paper examines two questions. First, to what extent do Canadians acquire and retain homeownership at different life-course stages, particularly after retirement? Second, has the age profile of homeownership changed over generations?

    Using data from eight Canadian censuses of population, conducted between 1971 and 2006, we find a strong regularity in the age profile of homeownership across generations of Canadians. The homeownership rate rises quickly with the age of household maintainers (i.e., the person(s) who pay(s) for shelter costs) in the period before the age of 40, and continues to climb thereafter at a slower pace until reaching the plateau near age 65, when about three quarters of Canadian households own their homes. We find that the homeownership rate changes little from age 65 to 74 but starts declining after age 75. As well, we note that the level at which homeownership plateaus has risen steadily across birth cohorts since the 1970s.

    Release date: 2010-06-07

  • Articles and reports: 11-010-X201000211122
    Geography: Canada
    Description:

    A look how age, income and family structure affects homeownership over time.

    Release date: 2010-02-11
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  • Articles and reports: 11F0027M2010064
    Geography: Canada
    Description:

    This paper estimates the implicit income generated by the home equity of working-age and retirement-age households. In so doing, it expands our understanding of Canadians' preparation for retirement by taking into account the services that homeowners realize as a result of having invested in their homes. On the basis of both the 2006 Survey of Household Spending and the 2006 Census of Population, we find that housing services make an important contribution to household income. When estimates of the services provided by the equity invested in housing are added to traditional estimates of income, the income of retirement-age households is increased by 9% to 12% for those in the 60-to-69 age class and by 12% to 15% for those in the 70-plus age class. In turn, this additional income reduces the difference in income between working-age and retirement-age households that own their own homes. According to the Survey of Household Spending, net incomes decline by about 45% between the peak household earning years and the 70-plus retirement-age class. This figure is reduced to 42% when the contribution of housing services is taken into account. The Census provides a similar picture: the gap in incomes is 38% when net income alone is considered and 35% when one accounts for housing services.

    Release date: 2010-07-26

  • Articles and reports: 11F0019M2010325
    Geography: Canada
    Description:

    Homeownership affects investment, consumption, and savings decisions of households, and plays a major role in post-retirement well-being. This paper examines two questions. First, to what extent do Canadians acquire and retain homeownership at different life-course stages, particularly after retirement? Second, has the age profile of homeownership changed over generations?

    Using data from eight Canadian censuses of population, conducted between 1971 and 2006, we find a strong regularity in the age profile of homeownership across generations of Canadians. The homeownership rate rises quickly with the age of household maintainers (i.e., the person(s) who pay(s) for shelter costs) in the period before the age of 40, and continues to climb thereafter at a slower pace until reaching the plateau near age 65, when about three quarters of Canadian households own their homes. We find that the homeownership rate changes little from age 65 to 74 but starts declining after age 75. As well, we note that the level at which homeownership plateaus has risen steadily across birth cohorts since the 1970s.

    Release date: 2010-06-07

  • Articles and reports: 11-010-X201000211122
    Geography: Canada
    Description:

    A look how age, income and family structure affects homeownership over time.

    Release date: 2010-02-11
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