Housing as Income in Old Age

This review concerns housing equity and the way it is used as a pension, across the member states of the European Union. Its starting point is a correlation between trends over time in home ownership rates and ageing populations. It is not primarily about the role of governments or of financial institutions, but rather identifies existing evidence about how European households, in aggregate and as individuals, have used home ownership as a contribution to meeting income needs in old age. The review mainly draws on studies written in English and based empirically on more than one country. As the current literature, it is geographically skewed so that conclusions about Europe in its entirety are limited. Nevertheless, an overall conclusion is that housing equity has had a significant influence on the income of older Europeans.