Older Americans increasingly saddled with housing debt

The share of older Americans with housing debt has doubled over the last 20 years, rising from 15.3 percent in 1995 to 32.7 percent in 2016. Blame refinancings. A recent analysis published by the Harvard Joint Center for Housing Studies found that equity extraction, refinancing and extended loan terms largely account for the increase in seniors’ housing debt over the last two decades. Among older Americans, the amount of debt jumped from $27,090 in 1995

source https://therealdeal.com/2020/10/22/older-americans-increasingly-saddled-with-housing-debt/