Correcting Second Home Equity in HRS/AHEAD: The Issues, a Method, and Some Preliminary Results
Second home equity is an important component of both housing equity and net worth for the old population. It has been covered, implicitly or explicitly, across all waves of HRS and AHEAD surveys. The negative impact of the inconsistent treatment of second home on the estimation of housing equity and net worth is substantial. This paper reports on a method for imputing the data to obtain corrected values for second home equity.
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Paper IDWP 2004-081