ABSTRACT

The U.S. housing market is being reshaped by the housing decisions of seniors aged 65 and older. This study examines the reasons why senior homeowners choose to move, downsize, and transition out of homeownership, placing particular emphasis on the role of property taxes and property tax abatement programs. Our findings suggest that although rising property taxes increase the probability that senior homeowners will become renters or downsize, property tax abatement programs seem to have largely failed to help low-income senior homeowners remain in their homes. High-income seniors receive a modest transfer from property tax abatement programs and continue owning their homes when moving, whereas low-income seniors transition from owning to renting when moving, even in places with generous property tax abatement programs. The U.S. senior population will grow significantly over the next several decades, and policymakers will need to design effective policies to create stable, affordable housing environments for seniors aged 65 and older. Our findings provide evidence to inform this effort.

摘要

65 岁及以上老年人的住房决定正在重塑美国住房市场。本研究探讨了老年房主选择搬迁、缩小规模和摆脱房屋所有权的原因，特别强调财产税和财产税减免计划的作用。我们的研究结果表明，虽然不断上涨的房产税增加了老年房主成为租房者或缩小规模的可能性，但房产税减免计划似乎在很大程度上未能帮助低收入老年房主留在家中。高收入老年人从财产税减免计划中获得适度的转移，并在搬家时继续拥有自己的房屋，而低收入老年人在搬家时从拥有房屋过渡到租房，即使在有慷慨的财产税减免计划的地方也是如此。美国 未来几十年老年人口将显着增长，政策制定者需要设计有效的政策，为 65 岁及以上的老年人创造稳定、负担得起的住房环境。我们的发现为这一努力提供了证据。