Boomer mortgage debt affects other spending

September 3, 2014

30 percent of Americans 65 and older have mortgage debt, compared to 22 percent in 2001, Think Advisor reports. The increase in mortgage debt can dampen the economy by influencing labor-force dynamics if older Americans can’t completely retire, or it may diminish other purchases by the aging population because of the money they owe on their home loans.

 

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