Written by Jim the Realtor

September 20, 2017

A surge in the 65+ population will probably prolong the market conditions we’ve seen lately – those are the people who got in first, and are probably settled enough that they won’t be moving.

But those who are relying on pensions might get a surprise, and it would take an unusual monetary need like that to cause them to sell their house – or get a reverse mortgage. An interesting note – the number of HUD reverse mortgages funded in the 2017 fiscal year was the lowest since 2005.

Read full article here – thanks JB!

https://www.realestateconsulting.com/correcting-demographic-misperceptions/

1 Comment

  1. gameagent

    Thanks to some of the best medical care in the country (all who take Medicare) and increased home values, we boomers ain’t leaving San Diego anytime soon.

    I checked on a reverse mortgage but when the lenders found out my house was worth over $1M, they all laughed. Reverse mortgages have cap values.

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