A run-up in housing wealth has left some homeowners reluctant to sell.
Older American homeowners are sitting on a mountain of equity thanks to a historic post-pandemic run-up in home prices. The St Louis Federal Reserve reports U.S. homeowners of all ages are sitting on $32 trillion in home equity. Of that older homeowners 62 and older account for $14 trillion of accumulated housing wealth. However, some are choosing not to sell their home and downsize or relocate. Here’s one reason why…
Shannon Hicks
Editor in Chief: HECMWorld.com
As a prominent commentator and Editor in Chief at HECMWorld.com, Shannon Hicks has played a pivotal role in reshaping the conversation around reverse mortgages. His unique perspectives and deep understanding of the industry have not only educated countless readers but has also contributed to introducing practical strategies utilizing housing wealth with a reverse mortgage.
Shannon’s journey into the world of reverse mortgages began in 2002 as an originator and his prior work in the financial services industry. Shannon has been covering reverse mortgage news stories since 2008 when he launched the podcast HECMWorld Weekly. Later, in 2010 he began producing the weekly video series The Industry Leader Update and Friday’s Food for Thought.
Readers wishing to submit stories or interview requests can reach our team at: info@hecmworld.com.
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