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Loren Elliott/Getty Images But even if baby boomers plan to pass on housing wealth to their heirs, they might end up needing it themselves.
Frederic J. Brown/AFP via Getty Images Homeowners’ median net worth is about $400,000. Renters? Just $10,000, according to the Aspen Institute’s Financial Security Program.
David McNew/Getty Images High interest rates often make home equity loans or cash-out refinance options unappealing.
Philip Pacheco/AFP via Getty Images A new report finds the rate of mortgage borrowers considered “equity rich” increased to 49% in the second quarter.
Jim Watson/AFP via Getty Images HELOC lending, secured by a homeowner’s property, has been growing even as mortgage demand has been falling.
Joe Raedle via Getty Images After a pause, HELOCs could regain popularity if mortgage interest rates rise.
Patrick T. Fallon/AFP via Getty Images Rising values have given homeowners a lot more equity, which they can tap for cash. They gained $1 trillion in the second quarter.
Justin Sullivan/Getty Images Housing wealth and other protections advantage owners over renters.
Cameron Spencer/Getty Images A growing number of homeowners have been refinancing and pocketing the increase in their homes’ values.
Photo by Justin Sullivan/Getty Images Spending on home improvement has increased by 50 percent since the recession.