The Role of Housing in the Wealth of U.S. Older Adults in Long-Term Care

• In Event: Economic Sociology Section Roundtables
  In Refereed Roundtable (60 minute): Roundtable 11: Socioeconomic Inequality

Abstract

Tapping into housing equity is one of the main ways that older people in the U.S. pay for long-term services and supports (LTSS). The financial impact of current systems of paying for LTSS in the U.S. is an increasingly important issue given an aging population, growing wealth stratification, and the centrality of housing to the overall wealth of older people. Current research has not adequately addressed the complex interactions between housing, LTSS, and wealth in shaping patterns of stratification in later life. This study explores housing from an asset perspective to understand the relationship between homes and changes in wealth for older adults receiving LTSS compared to those who are not. Using data from the Health and Retirement Study (HRS), we investigate how homeownership and housing equity shape the relationship between LTSS receipt and wealth, and how this moderating effect varies across households by race and ethnicity.

Authors

• Jessica Lily Warren, University of Washington

• Kyle Crowder, University of Washington

• Sarah Quinn, University of Washington