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Article: Willingness to consider applying for reverse mortgage in Hong Kong Chinese middle-aged homeowners

TitleWillingness to consider applying for reverse mortgage in Hong Kong Chinese middle-aged homeowners
Authors
KeywordsHong Kong
Middle-aged adults
Reverse mortgage
Issue Date2006
PublisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/habitatint
Citation
Habitat International, 2006, v. 30 n. 3, p. 716-727 How to Cite?
AbstractThe reverse mortgage plan has been proposed as a viable solution to improve or maintain the economic status of older adults who are "house-rich but cash-poor". The objectives of the current study were: (1) to find out the percentages of the middle-aged (aged between 45 and 59) homeowners in Hong Kong who would consider applying for the reverse mortgage plan when they retired or became older and (2) to identify socio-demographic, economic and health-related characteristics that were significantly related to the willingness to consider applying for the reverse mortgage plan. In a random sample of 1867 Hong Kong middle-aged adults, 663 of them owned their self-occupied flats. Approximately, 11%±2.4% (p < 0.05) of these home-owners definitely or probably would consider to apply for such plan if it was available in Hong Kong local banks. Moreover, using logistic regression analyses, we found that childlessness and possession of stocks, bonds or funds were positively related to the willingness to consider applying for the plan and the amount of financial asset (excluding their self-occupied properties) was negatively associated with that willingness. Results suggest that the reverse mortgage may be another feasible option to secure the retirement income for the next cohort of older adults in the coming two decades. © 2005 Elsevier Ltd. All rights reserved.
Persistent Identifierhttp://hdl.handle.net/10722/82016
ISSN
2015 Impact Factor: 2.029
2015 SCImago Journal Rankings: 1.038
ISI Accession Number ID
References

 

DC FieldValueLanguage
dc.contributor.authorChou, KLen_HK
dc.contributor.authorChow, NWSen_HK
dc.contributor.authorChi, Ien_HK
dc.date.accessioned2010-09-06T08:24:35Z-
dc.date.available2010-09-06T08:24:35Z-
dc.date.issued2006en_HK
dc.identifier.citationHabitat International, 2006, v. 30 n. 3, p. 716-727en_HK
dc.identifier.issn0197-3975en_HK
dc.identifier.urihttp://hdl.handle.net/10722/82016-
dc.description.abstractThe reverse mortgage plan has been proposed as a viable solution to improve or maintain the economic status of older adults who are "house-rich but cash-poor". The objectives of the current study were: (1) to find out the percentages of the middle-aged (aged between 45 and 59) homeowners in Hong Kong who would consider applying for the reverse mortgage plan when they retired or became older and (2) to identify socio-demographic, economic and health-related characteristics that were significantly related to the willingness to consider applying for the reverse mortgage plan. In a random sample of 1867 Hong Kong middle-aged adults, 663 of them owned their self-occupied flats. Approximately, 11%±2.4% (p < 0.05) of these home-owners definitely or probably would consider to apply for such plan if it was available in Hong Kong local banks. Moreover, using logistic regression analyses, we found that childlessness and possession of stocks, bonds or funds were positively related to the willingness to consider applying for the plan and the amount of financial asset (excluding their self-occupied properties) was negatively associated with that willingness. Results suggest that the reverse mortgage may be another feasible option to secure the retirement income for the next cohort of older adults in the coming two decades. © 2005 Elsevier Ltd. All rights reserved.en_HK
dc.languageengen_HK
dc.publisherPergamon. The Journal's web site is located at http://www.elsevier.com/locate/habitatinten_HK
dc.relation.ispartofHabitat Internationalen_HK
dc.subjectHong Kongen_HK
dc.subjectMiddle-aged adultsen_HK
dc.subjectReverse mortgageen_HK
dc.titleWillingness to consider applying for reverse mortgage in Hong Kong Chinese middle-aged homeownersen_HK
dc.typeArticleen_HK
dc.identifier.openurlhttp://library.hku.hk:4550/resserv?sid=HKU:IR&issn=0197-3975&volume=30&spage=216&epage=727&date=2006&atitle=Willingness+to+consider+applying+for+reverse+mortgage+in+Hong+Kong+Chinese+middle-aged+homeownersen_HK
dc.identifier.emailChou, KL: klchou@hku.hken_HK
dc.identifier.emailChow, NWS: hrnwcws@hkucc.hku.hken_HK
dc.identifier.authorityChou, KL=rp00583en_HK
dc.identifier.authorityChow, NWS=rp00582en_HK
dc.description.naturelink_to_subscribed_fulltext-
dc.identifier.doi10.1016/j.habitatint.2005.04.008en_HK
dc.identifier.scopuseid_2-s2.0-33744990634en_HK
dc.identifier.hkuros140470en_HK
dc.relation.referenceshttp://www.scopus.com/mlt/select.url?eid=2-s2.0-33744990634&selection=ref&src=s&origin=recordpageen_HK
dc.identifier.volume30en_HK
dc.identifier.issue3en_HK
dc.identifier.spage716en_HK
dc.identifier.epage727en_HK
dc.identifier.isiWOS:000239742100021-
dc.publisher.placeUnited Kingdomen_HK
dc.identifier.scopusauthoridChou, KL=7201905320en_HK
dc.identifier.scopusauthoridChow, NWS=35857105900en_HK
dc.identifier.scopusauthoridChi, I=7005697907en_HK

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