Age-old wisdom instructs that a home is a good investment for Americans of any age.
But what if you are retired and still paying it off?
More Americans are entering retirement with mortgaged homes, and the average balance of those loans is rising.
The share of Americans ages 75 and over who are carrying mortgage debt has risen steadily for decades, according to the federal Survey of Consumer Finances: from 5% in 1995 to a historic high of 25% in 2022.
The amount those homeowners owe has risen apace, from a median $14,000 in 1995 to $102,000 in 2022.
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