However living standards in old-age are also influenced by other resources. The elderly often own their houses. Older owner occupiers have generally paid off their mortgages, and so face much lower housing costs than people paying rent. Including the monetary benefit that people have from living in their own homes (the so called "imputed rent") increases disposable income of the elderly and contributes to the reduction of old-age poverty. In Spain, adding imputed rent reduces old-age poverty rates by more than half and increases disposable income by around 30%. This is the highest value observed in OECD countries.
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