Willingness Analysis of Middle-Aged and Older People's Participation in Reverse Mortgage Schemes
One urgent issue stemming from the worldwide rapid aging population is the need to establish multiple and well-structured alternatives that support older adults in achieving financial independence and enable them to age in their own homes. With the growing global focus on this concept, this study aims to address gaps in the literature concerning middle-aged and older people (MAOP) by investigating the preferences of MAOP homeowners on reverse mortgage (RM) schemes. The study employs a quasi-experimental design and utilizes data collected from surveys conducted in Taipei City and New Taipei City, Taiwan. The stated preference method and conditional multinomial logit model were employed for empirical analysis. The results indicate that MAOP individuals with children are more inclined to engage in RM schemes. Rising living costs and increasing life expectancy have made RMs an alternative to revitalize assets, support older adults’ financial plans for aging at home, and avoid burdening younger generations. Governments are encouraged to enhance the transparency and accessibility of RM schemes to offer older adults, who own a house, more alternatives for aging at home
Year of publication: |
[2023]
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Authors: | Chen, Ching-Yi ; Wang, Hsi-Chuan |
Publisher: |
[S.l.] : SSRN |
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