Senior housing wealth goes through the roof – again

Senior homeowners were close to making $11 trillion in housing wealth by the end of the fourth quarter of 2021, according to the National Reverse Mortgage Lenders Association.

Over the past quarter, homeowners 62 and older achieved a 4% rise in their collective housing wealth. Together, senior homeowners are $405 billion better off than they were in Q3 2021. Senior home equity is now worth a total of $10.6 trillion.

The NRMLA/ RiskSpan Reverse Mortgage Market Index hit another all-time high in the fourth quarter, up to a reading of 370.56. An estimated 3.7%, or $452 billion, increase in home values spurred the increase in older homeowners’ wealth. However, it was offset by a 2.3%, or $47 billion, jump in senior-held mortgage debt.