OK. Obviously not all seniors are rich. But, wealth is a measurement of assets, not income, and America’s elderly population has a lot of wealth. The National Reverse Mortgage Lenders Association uncovered something unexpected: senior housing values have outperformed the general housing market. Seniors currently account for just under $6 trillion in home equity! That’s actual equity, with property value coming in at over $7 trillion, and only $1.5 trillion in debt.
