Global equity release market projected to hit $52B by 2035
New survey found that North America is expected to account for much of the projected growth
The global equity release market is expected to reach $52 billion by 2035, according to a recent survey. This growth is significant, as it represents a substantial increase from current market size. The projection suggests that more homeowners, particularly in North America, will be tapping into their home equity to supplement their income or cover expenses.
North America is anticipated to drive much of this growth, which is not surprising given the region's mature equity release market. In the US, for example, reverse mortgages have been a popular option for seniors looking to access their home equity. As the population ages, it's likely that more homeowners will turn to equity release products to support their retirement or meet other financial needs. This trend has implications for the real estate and financial industries, as it may influence housing market dynamics and the types of products offered to consumers.
As the equity release market continues to grow, it's essential to watch how regulatory environments and consumer protections evolve. In recent years, there have been efforts to strengthen safeguards for consumers, such as improved disclosure requirements and counseling standards. Going forward, industry stakeholders will need to balance innovation with responsible lending practices to ensure that equity release products serve the needs of homeowners while minimizing potential risks. Keep an eye on developments in North America, as well as other regions, to see how the market unfolds.
Originally reported by housingwire.com. ASIDNews adds analysis for real estate & property readers.