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COVID-19, Home Equity and Retirement Funding
By Vishaal Baulkaran & Pawan Jain
We investigate the impact of COVID-19 on using home equity to fund retirement income. We show that financial planners believe that COVID-19 positively influenced their clients’ willingness to utilize home equity products to fund retirement income in particular, sell and downsize and HELOC options. For consumers, COVID-19 does not seem to have a major impact on the outlook on residential property, retirement income, retirement plan, or perceived/actual standard of living during retirement. However, there appears to be significant differences among gender, urban vs. rural consumers and those who are already retired vs. those who are still working.
Source @SSRN
