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Valuing Housing in Measures of Household and Family Economic Well-Being

机译:在家庭和家庭经济福利措施中重视住房

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The most commonly used measures of economic well-being in the United States is household income. This measure is based on money income which is commonly criticized as misrepresenting the well-being of the elderly. Since the money income of elderly families and households is low after retirement, they tend to appear to be less well-off relative to other family types. A common suggestion is to note that elderly families and individuals often own their homes without mortgages and pay below 'market rent' for their homes. In this sense they are better off than younger families with high mortgage payments. Including inputed net rental income from owned homes when examining income distributions attempts to address this issue to find a way to account for the fact that homeowners who have paid down mortgage debt have much lower housing costs than renters or homeowners with mortgages. These concepts figure into deliberations about the proper definitions of income. In 2001, the Canberra Group released a report consistently defining household income for use in distributional measures used by statistical organizations around the world. Some of these definitions address the need to account for home ownership in a statistical measure of economic well-being. Further, housing markets have become an important issue of late in the U.S. as the financial markets surrounding homeownership have changed radically in recent years. These changes have had a profound effect on the economic well-being of families and individuals.

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