US Homeowners Over 62 Hold Record Housing Wealth
Homeowners over 62 years old in the US have a record amount of wealth in their homes. This is due to increasing home values and the money they have already paid into their homes. The total wealth is now $14.66 trillion, which is higher than the previous record of $14.39 trillion.
What is Housing Wealth?
Housing wealth refers to the value of a home minus any money still owed on it. This wealth can be used to help homeowners in their retirement. The National Reverse Mortgage Lenders Association and RiskSpan track this wealth to see if older homeowners might want to use reverse mortgages.
Record Housing Wealth
The housing wealth of older homeowners rose by 1.9% in the third quarter of 2025. This increase added $295.4 billion to their wealth. However, they also took on more debt, which reduced their wealth by $22.8 billion. The total housing wealth is now at its highest point since tracking began in 2000.
Why is Housing Wealth Important?
Housing wealth is important because it can help retirees pay for living expenses. Many retirees worry about running out of money, but their home equity can provide financial security. Home equity is the value of a home minus any debt owed on it. It can be used to offset rising costs and reduce income shortfalls.
Using Housing Wealth Responsibly
Using housing wealth responsibly can help seniors achieve financial security. This means considering all options and making informed decisions. Home equity can be a powerful financial resource, but it must be used wisely. The National Reverse Mortgage Lenders Association president, Steve Irwin, says that home equity is often underutilized.
Impact of Inflation
Inflation can reduce the purchasing power of retirees' savings. However, their housing wealth can help offset this loss. As home values increase, so does the wealth of homeowners. This can provide a sense of security and peace of mind for retirees.
Looking to the Future
As the US population ages, housing wealth will become increasingly important. Homeowners over 62 will continue to hold significant wealth in their homes. This wealth can be used to support their retirement and provide financial security. As the housing market continues to evolve, it will be important to consider how to use this wealth responsibly and effectively.
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