MarketWatch’s Alicia Munnell covers how tapping into home equity in retirement looks like today.
“Older households do not have as much home equity as during the bubble in house prices, but it remains an important component of wealth,” Munnell writes. Using data from the 2013 Federal Reserve’s Survey of Consumer Finances, Munnell reports that 77 percent of households in their early 60s owned a house and the median house price was $185,000, but 63 percent of those households continued to have a mortgage.
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