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Senior Housing Wealth Gains $520B in Q1

Senior homeowners, defined as those aged over 62-years-old, saw their housing wealth grow by an average of 4.91%, roughly equating $520 billion, during the first quarter of 2022 pushing the total market value upwards to a record $11.12 trillion from the fourth quarter of 2021. 

This information comes to us from the latest quarterly release of the National Reverse Mortgage Lenders Association (NRMLA) and RiskSpan’s Reverse Mortgage Market Index (RMMI). 

All-in-all, the RMMI found that the index rose in the first quarter to an all-time high of 388.83, a first in its 22 year history. The increase in older homeowners wealth was mainly driven by an estimated 4.4% or $563 billion increase in home values, offset by a 2.06% or $43 billion increase in senior-held mortgage debt. 

NRMLA President Steve Irwin, said: "Inflationary fears, market volatility and concerns about a possible recession have created a great deal of anxiety for America's aging population. Now may be an appropriate time to consider the strategic use of home equity to help improve older homeowners' retirement security." 

About Author: Kyle G. Horst

Kyle Horst
Kyle G. Horst is a reporter for DS News and MReport. A graduate of the University of Texas at Tyler, he has worked for a number of daily, weekly, and monthly publications in South Dakota and Texas. With more than 10 years of experience in community journalism, he has won a number of state, national, and international awards for his writing and photography. He most recently worked as editor of Community Impact Newspaper covering a number of Dallas-Ft. Worth communities on a hyperlocal level. Contact Kyle G. at [email protected]

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