“Older adults’ home equity tops $13 trillion in first quarter”

Older adults’ home equity tops $13 trillion in first quarter,” by Kathleen Steele Gaivin, McKnights Senior Living

“Homeowners aged 62 or more years saw their housing equity grow by $328.5 billion in the first quarter, according to data released Friday by the National Reverse Mortgage Lenders Association. The increase brings older adults’ housing equity to a record $13.19 trillion, according to NRMLA. Housingwire reported that the increase marks ‘a recovery after decreases observed over the past year.’”

LTC Comment, Stephen A. Moses, President, Center for Long-Term Care Reform:

Good news indeed because home equity is America’s true LTC safety net when Medicaid, Medicare and Social Security fail.