How Inflation Will Impact Homeowners and What You Can Do About It
October 12, 2022
It’s official: Inflation recently reached its highest level in decades, and Goldman Sachs has predicted that the situation may become worse than initially predicted this year.
The general cost of goods and services tends to increase during periods of high inflation, and real estate is no exception. At the same time, senior home equity reached new highs in the third quarter of 2021, growing $396 billion to exceed $10 trillion. This house-rich, cash-poor phenomenon isn’t new, but more than ever, seniors are sitting on a massive source of cash.
And for those who are debt-averse, home equity investments offer homeowners a solution to access their equity without interest or monthly payments.
Jonathan MacKinnon, Hometap’s VP of product strategy and business development, has more than 15 years of experience in management, business and corporate development, and investing and operations. He was the head of growth and operations, consumer finance for CarGurus and the senior director of business operations and general manager for PistonHeads.com.
This article originally appeared on 50 Plus Life. See the article here.