Tag: Housing

Hand holding magnifying glass and looking at house model, house

Abstract This paper uses the Health and Retirement Study to explore how local cost-of-living affects Social Security replacement rates and household behavior.  In theory, labor markets with high cost-of-living also offer more compensation.  If this compensating differential is paid in wages, rather than benefits, it reduces the share of earnings replaced by Social Security due to t…

African american woman saves money in piggy bank with a confident expression on smart face thinking serious

In the second half of 2020, the number of retired homeowners who fell behind on their mortgage payments doubled to about 1 million per month. By July of this year, it had dropped to 680,000 retirees. The federal Consumer Financial Protection Bureau (CFPB), which issued the report on homeowners over age 65, said about 12…