“Older adults’ home equity exceeds record $10.6 trillion: report,” by Kathleen Steele Galvin, McKnight’s Senior Living”

“Older adults’ home equity exceeds record $10.6 trillion: report,” by Kathleen Steele Galvin, McKnight’s Senior Living

 

Quote:

“Homeowners aged 62 and older increased their home equity by 3.98% in the fourth quarter of 2021 to a record $10.6 trillion from the previous quarter, according to the National Reverse Mortgage Lenders Association. That’s a difference of $405 billion. … Reverse mortgages aren’t just for homeowners short on cash anymore, the New York Times reported earlier this month.”

 

 

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

Home equity could pay for a lot of long-term care if Medicaid didn’t exempt nearly all of it. How exactly does that policy help the poor who have no home equity?