Homeownership: A solution for providing financial security for old age

Not only in Germany, but in virtually all other European states, further shifts in the age structure are foreseeable in the coming years. These will lead to a conflict in the so-called "generation contract," according to which young people in working life pay the pensions for older ones wh...

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Bibliographic Details
Published inHousing finance international Vol. 13; no. 2; p. 3
Main Author Zehnder, Andreas
Format Journal Article
LanguageEnglish
Published London International Union for Housing Finance 01.12.1998
Subjects
Age
Demographics
Economic statistics
Economic trends
Expenditures
Home ownership
Housing
Investments
Life expectancy
Males
Population
Provisions
Retirement
Social conditions & trends
Germany
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Summary:Not only in Germany, but in virtually all other European states, further shifts in the age structure are foreseeable in the coming years. These will lead to a conflict in the so-called "generation contract," according to which young people in working life pay the pensions for older ones who have retired. Citizens are increasingly recognizing the significance of home ownership. When planning and shaping owner-occupied houses as a provision for old age, one trend must be observed which will automatically arise through citizens making their own provisions. Owing to the fewer financial resources available in old age, the extended family unit will become more important again.
ISSN:1534-8784