Viability of home equity conversion mortgage in Kenya

Abstract

Housing wealth as a source of retiree income is normally neglected. This form of wealth could have an incremental value on the homeowner's retirement income if they could be able to leverage this ownership as collateral for capital. Releasing home equity may result in a marked increase in consumption, a drop in public pension liability and access to long-term care facilities. This may also ease the tax burden imposed by the increasing population ageing on the traditional state-funded retirement provisions.