The Italian Senate has approved a new law regulating the “prestito vitalizio ipotecario”
This is a home equity release product that allows elderly homeowners to consume (part of) their housing equity without having to disrupt housing arrangements.
DDL1564-AS_prestito_vitalizio_ipotecario
The news on Il Corriere:
http://www.corriere.it/economia/15_marzo_19/diventa-legge-91ca9950-ce3c-11e4-b573-56a67cdde4d3.shtml
CeRP has been dealing with housing wealth decumulation in several studies; the latest, “Explaining why, right or wrong, (Italian) households do not like reverse mortgages” by Elsa Fornero, Mariacristina Rossi and Cesira Urzì Brancati, has been recently published on the Journal of Pension Economics and Finance, 2015, doi 10.1017/S1474747215000013.