The Global Studies Seminar presents "The Role of House Prices in the Mobility Choices of the Elderly in the US" by Denison University's Visiting Assistant Professor of Economics Wilder Pimentel.
Can elderly individuals in the US afford to move to more expensive homes or locations? The age demographic distribution in the US has undergone significant changes over the years and is expected to continue to shift. One of the most significant changes is the increase in the proportion of the elderly population. The focus of this study is on the heterogeneity of mobility choices among the elderly population with respect to house prices. The study finds statistically significant evidence of differences in mobility behavior between the older and younger elderly groups. While both groups are more likely to move if the destination home is more expensive, the younger group has a greater propensity for mobility. Notably, the study reveals that the older elderly prefer a cheaper home relative to the younger group, but a more expensive area of destination. A linear probability model is used to analyze the impact of house and area house prices on predicting mobility behavior of elderly individuals, and the study constructs a 2-year mobility dependent variable using geographical location at the time of the interview.
Pimentel obtained a doctorate degree in Economics from Southern Illinois University in May 2023. His area of study is Applied Microeconomics.
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