Housing Debt a Burden for Growing Number of Older Americans

June 2, 2015

The Post Star reports that of all the financial threats facing Americas of retirement age, housing debt remains a big burden for millions of them.

Data from The Consumer Financial Protection Bureau’s Office for Older Americans show that 30 percent of homeowners 65 and older – 6.5 million people – were paying a mortgage in 2013, a 22 percent increase from 2001.

The bureau also found that the median mortgage held by Americans 65 and older has more than doubled since 2001, from $43,000 to $88,000.

Read more

Comments

expand_less