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The Importance of Housing in Retirement: The Case of the United States

The Importance of Housing in Retirement: The Case of the United States. Dean Baker, Co-director Center for Economic and Policy Research March 20, 2014. Main Points. The decline of defined benefit pensions The failure of defined contribution pensions Home equity as a share of net worth

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The Importance of Housing in Retirement: The Case of the United States

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  1. The Importance of Housing in Retirement: The Case of the United States Dean Baker, Co-director Center for Economic and Policy Research March 20, 2014
  2. Main Points The decline of defined benefit pensions The failure of defined contribution pensions Home equity as a share of net worth The volatility of house prices Labor force participation of older workers in the downturn
  3. Defined benefit pensions are rapidly disappearing in the private sector
  4. Pensions by firm size
  5. Wealth in retirement accounts by income Source: Federal Reserve Bulletin, June 2012
  6. Wealth in retirement accounts by age Source: Federal Reserve Bulletin, June 2012
  7. Real Estate Wealth: before and after the crash
  8. Real Estate Wealth: before and after the crash
  9. Older workers held their jobs through the downturn
  10. Homeownership and Retirement Income Social Security will provide most retirement income for most retirees Defined benefit pensions are quickly disappearing Defined contribution pensions provide little income for most families Home equity is the main financial asset for middle income retirees Volatility of house prices will be a serious risk for middle income retirees
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