{"id":63023,"date":"2026-05-13T03:00:18","date_gmt":"2026-05-13T01:00:18","guid":{"rendered":"https:\/\/housesmarketplace.com\/retirees-counting-on-home-equity-may-face-financial-shortfalls\/"},"modified":"2026-05-13T03:00:18","modified_gmt":"2026-05-13T01:00:18","slug":"retirees-counting-on-home-equity-may-face-financial-shortfalls","status":"publish","type":"post","link":"https:\/\/housesmarketplace.com\/ru\/retirees-counting-on-home-equity-may-face-financial-shortfalls\/","title":{"rendered":"Retirees counting on home equity may face financial shortfalls"},"content":{"rendered":"
\n

For generations, homeownership has been one of the primary ways Americans built wealth and passed it on to loved ones.<\/p>\n

Now, financial advisers and housing experts warn that many older homeowners may be counting too heavily on their homes as \u0432\u044b\u0445\u043e\u0434 \u043d\u0430 \u043f\u0435\u043d\u0441\u0438\u044e<\/a> safety nets as they discover their properties sell for less than expected, according to a recent report published by The New York Times.<\/p>\n

Americans ages 70 and older collectively hold about $13 trillion in housing wealth, according to an \u0430\u043d\u0430\u043b\u0438\u0437<\/a> \u043e\u043f\u0443\u0431\u043b\u0438\u043a\u043e\u0432\u0430\u043d\u043e \u041a\u0440\u0430\u0441\u043d\u043e\u043f\u0435\u0440\u044b\u0439<\/strong> in March.<\/p>\n

But a more recent study from the Federal Reserve Bank of Philadelphia<\/strong> found that older homeowners often receive lower prices when selling compared with younger owners \u2014 even when properties are otherwise similar.<\/p>\n

The discount grows with age. Researchers found that an average 80-year-old seller could receive about 5% less than a 45-year-old homeowner, the Times \u043e\u0442\u0447\u0435\u0442<\/a> \u043e\u0431\u044a\u044f\u0441\u043d\u0438\u043b.<\/p>\n

The consequences can be severe for retirees relying on \u0441\u043e\u0431\u0441\u0442\u0432\u0435\u043d\u043d\u044b\u0439 \u043a\u0430\u043f\u0438\u0442\u0430\u043b<\/a> to finance a new home purchase, assisted living or long-term care.<\/p>\n

\u201cThe real question is, where are they transitioning to?\u201d Dan Sudit, a wealth adviser and partner at Crewe Advisors <\/strong>in Salt Lake City, told the Times. \u201cIt might not be a two-bedroom or a one-bedroom, but might wind up being a studio-type unit.\u201d<\/p>\n

Aging homes, aging owners<\/h2>\n

Housing professionals say one major factor behind the pricing gap is deferred maintenance<\/a>.<\/p>\n

Older homeowners are less likely to renovate kitchens and bathrooms, complete repairs or modernize interiors before listing their homes.<\/p>\n

\u201cUnless something\u2019s broken, they don\u2019t fix it,\u201d Amy Bubes, a real estate agent in Atlanta, told the Times.<\/p>\n

Outdated aesthetics can also deter buyers who already face \u0434\u043e\u0441\u0442\u0443\u043f\u043d\u043e\u0441\u0442\u044c<\/a> pressures.<\/p>\n

\u201cYou\u2019ve got the avocado bathtub and yes, the fridge works fine, but it\u2019s harvest gold,\u201d said Beverly Grace, owner of Grace Realty and Property Management<\/strong> in Seminole, Florida. \u201cIt all looks really wonderful to them, but they didn\u2019t change anything to go with the times.\u201d<\/p>\n

Reverse mortgages still face resistance<\/h2>\n

Some industry professionals argue that reverse mortgages could help older homeowners unlock equity without rushing to sell \u2014 but the products continue to carry stigma decades after their introduction.<\/p>\n

Michael Banner, a reverse mortgage educator and leader at \u0410\u043c\u0435\u0440\u0438\u043a\u0430\u043d\u0441\u043a\u0430\u044f \u0422\u0438\u0445\u043e\u043e\u043a\u0435\u0430\u043d\u0441\u043a\u0430\u044f \u0418\u043f\u043e\u0442\u0435\u043a\u0430<\/strong>, recently told \u0416\u0438\u043b\u044c\u0435\u041f\u0440\u043e\u0432\u043e\u043b\u043e\u043a\u0430<\/strong>\u2018s Reverse Mortgage Daily that misinformation continues to limit the adoption<\/a> of the HECM for Purchase program.<\/p>\n

\u201cThis product is surrounded by more misinformation and half-truths than any other product in the history of the financial world,\u201d Banner said. \u201cThere\u2019s only one way to do it: education.<\/p>\n

\u201cIt\u2019s like annuities. Forty years ago, people didn\u2019t trust them. Now they\u2019re mainstream [because] you had the biggest insurance companies in the country with millions of agents, educating and pushing. It\u2019s going to take us a while because we haven\u2019t even started yet.\u201d<\/p>\n

Banner said reverse mortgages developed a poor reputation decades ago when the products carried higher costs and fewer borrower protections<\/a>.<\/p>\n

\u201cThe horror stories are real. But the truth is, at least for the last 16 years, it\u2019s been a great product,\u201d he said. \u201cWe protect the younger borrower, the surviving borrower, we protect the estates<\/a>. Nobody can do what we do. But when was the last time you saw anybody say that, other than on a reverse mortgage group on LinkedIn<\/strong>?<\/p>\n

\u201cLast year, Realtors sold 5 million homes. I think I don\u2019t have it in front of me, but I believe 16% or 17% of those homes were sold to people above the age of 62 \u2014 meaning 800,000 homes were sold to people above 62. I don\u2019t remember how many reverse mortgage purchases we did. I think something like 300.\u201d<\/p>\n

Choosing certainty over risk<\/h2>\n

The New York Times said that older homeowners are also more likely to accept cash offers from investors or use \u0447\u0430\u0441\u0442\u043d\u044b\u0435 \u043e\u0431\u044a\u044f\u0432\u043b\u0435\u043d\u0438\u044f<\/a> that bypass broader market exposure.<\/p>\n

While those deals can simplify transactions, experts say they frequently result in lower sale prices. For some retirees, however, speed and certainty outweigh maximizing profit.<\/p>\n

Bob Bozek, 73, and his husband, Dan Driscoll, 81, sold their condominium near Fort Lauderdale, Florida, in 2024 \u2014 citing rising insurance costs, health concerns and increasing homeowners association fees<\/a>.<\/p>\n

\u201cEven though what we settled for was lower than what we\u2019d hoped for, it was cash in hand,\u201d Driscoll told the Times. \u201cWe were so grateful.\u201d<\/p>\n

The couple moved into a smaller home in Maryland and said the reduced financial pressure was worth the compromise.<\/p>\n

\u201cWe were lucky to have done it when we did,\u201d Bozek said. \u201cWe still have friends down there and my goodness \u2014 the condo market fell completely.\u201d<\/p>\n

This article was written by Jonathan Delozier and generated with the assistance of HousingWire Automation. It was reviewed by a HousingWire editor before publication. The system helps convert company announcements and industry data into HousingWire-style news coverage.<\/em><\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"

For generations, homeownership has been one of the primary ways Americans built wealth and passed it on to loved ones. Now, financial advisers and housing experts warn that many older homeowners may be counting too heavily on their homes as retirement safety nets as they discover their properties sell for less than expected, according to […]<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-63023","post","type-post","status-publish","format-standard","hentry","category-uncategorized"],"yoast_head":"\nRetirees counting on home equity may face financial shortfalls - Houses Marketplace<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/housesmarketplace.com\/ru\/retirees-counting-on-home-equity-may-face-financial-shortfalls\/\" \/>\n<meta property=\"og:locale\" content=\"ru_RU\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Retirees counting on home equity may face financial shortfalls\" \/>\n<meta property=\"og:description\" content=\"For generations, homeownership has been one of the primary ways Americans built wealth and passed it on to loved ones. 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