In 2020, Jillian VanTuyle racked up $60,000 worth of credit card debt paying for childcare and other expenses during the COVID pandemic. In 2026, she sold her home, paid off all her debt, and didn’t even have to move.
But even if baby boomers plan to pass on housing wealth to their heirs, they might end up needing it themselves.
Homeowners’ median net worth is about $400,000. Renters? Just $10,000, according to the Aspen Institute’s Financial Security Program.
High interest rates often make home equity loans or cash-out refinance options unappealing.
A new report finds the rate of mortgage borrowers considered “equity rich” increased to 49% in the second quarter.
HELOC lending, secured by a homeowner’s property, has been growing even as mortgage demand has been falling.
After a pause, HELOCs could regain popularity if mortgage interest rates rise.
Rising values have given homeowners a lot more equity, which they can tap for cash. They gained $1 trillion in the second quarter.
Housing wealth and other protections advantage owners over renters.
A growing number of homeowners have been refinancing and pocketing the increase in their homes’ values.
