Gen X Experiences a Boom in Home Equity

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According to a recent study, Gen Xers (those born between 1965 – 1983) experienced some of the biggest decreases in home equity during the great recession. However, nearly 10 years later, the median net worth of these same homeowners has risen by 115%. Based on an analysis of Federal Reserve data, the study finds that Gen Xers are the only generation of households to recover the wealth they lost during the great recession.

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Source: Pew Research Center analysis of Survey of Consumer Finances public-use data.

This is wonderful news for homeowners in this position as they are now in a great position to take advantage of their home equity. If you need an infusion of cash to pay for a wedding or other life event, are considering a home renovation, or just want to consolidate debt at a much lower rate, visit: freedommortgage.com/cash-out-refinance to learn more about our cash-out refinance programs.

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