On August 22, 2023, in San Diego, Finance of America Reverse LLC (FAR), which is a key participant in the reverse mortgage business and a subsidiary of the Finance of America Companies (NYSE: FOA), released its 2023 Home Equity Punch List. This study investigates the opinions of homeowners in the United States on their home’s equity as well as their feelings towards long-term financial planning and retirement.
The study highlights that nearly 79% of homeowners remain uneasy about the U.S. economy, mirroring sentiments from 2022. Concerns about unforeseen healthcare expenses during retirement have risen, with 61% of homeowners now anxious, up from 48% last year. Furthermore, the proportion of homeowners worried about discretionary spending has jumped from 32% in 2022 to 41% this year.
The poll also revealed gender differences in terms of worries over one’s financial situation. Comparatively, just 75% of males were worried about the…
