More on Student Debt & Millennial’s Impact on Housing; Home Price Trends

By Rob Chrisman

Posted To: Pipeline Press

Poor Baby Boomers. The industry is so fixated on waiting for the “trophy generation” Millennials to figure out what they want for housing (see updates a few paragraphs down) that no one seems too concerned about older folks. But the National Reverse Mortgage Lenders Association/ Risk Span Reverse Mortgage Market Index (RMMI) grew for the tenth straight quarter. The RMMI, which evaluates trends in home values , home equity and mortgaged debt of homeowners, aged 62 or older every quarter, has reached its highest level since Q3 of 2007 at 183.87, a 2.5% increase from Q2 of 2013. The index indicates that Americans 62 years old and older now have more equity in their homes since 2007 and senior home values have grown by more than $97 billion in Q3 , whereas collective home equity continues to increase…(read more)

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