Check nearby libraries
Buy this book
"Prior literature on asset patterns among the elderly often overlooks housing wealth as a determinant of retiree wealth, particularly in the Japanese context. Yet releasing equity in housing may be a natural mechanism to boost consumption, reduce public pension liability, and mitigate the demand for long-term care facilities in Japan. Our study evaluates what might be needed to implement reverse mortgages (RMs) in this country. Policies could include exempting RMs from capital gains tax and transactions tax, along with mechanisms to make annuity income flows nontaxable, along with interest rate accruals for RMs. In addition, housing market reforms to enhance information flows would be needed, particularly regarding new and existing housing trades, which could permit the securitization of housing loans and lines of credit. Other improvements in capital markets could also help, including the establishment of reinsurance mechanisms to help lenders offer these reverse mortgages while having some protection against crossover risk. In the Japanese case, demand for RMs will be dampened by declining residential housing values as well as low interest rates and long life expectancies. Nevertheless, we conclude that RMs might be a good way to finance elderly consumption in Japan, particularly against the backdrop of governmental financial stringencies"--National Bureau of Economic Research web site.
Check nearby libraries
Buy this book
Subjects
Equity, Government policy, Housing, Mortgage loans, Reverse, Older people, Reverse Mortgage loansPlaces
JapanShowing 2 featured editions. View all 2 editions?
Edition | Availability |
---|---|
1
Unlocking housing equity in Japan
2004, National Bureau of Economic Research
Electronic resource
in English
|
zzzz
|
2 |
aaaa
Libraries near you:
WorldCat
|
Book Details
Edition Notes
"March 2004."
Includes bibliographical references.
Also available in PDF from the NBER world wide web site (www.nber.org).
The Physical Object
ID Numbers
Community Reviews (0)
Feedback?History
- Created September 29, 2008
- 3 revisions
Wikipedia citation
×CloseCopy and paste this code into your Wikipedia page. Need help?
December 15, 2009 | Edited by WorkBot | link works |
April 25, 2009 | Edited by ImportBot | add OCLC number |
September 29, 2008 | Created by ImportBot | Imported from Oregon Libraries MARC record |