Today, HW Media, the parent company of HousingWire, announced the acquisition of Reverse Mortgage Daily, a publication covering a key part of the housing ecosystem as more and more Baby Boomers hit retirement age.
As HousingWire CEO Clayton Collins noted: "Over the next 20 years, the percentage of Americans over the age of 65 is anticipated to expand from less than 15% to over 20% of the population. But this growing demographic has a problem – retirement wealth for 'younger baby boomer' cohorts that saved in 401Ks and IRAs is notably lower than for early-Boomers who saved for retirement through defined benefit plans."
At the same time, the homeownership rate for seniors ages 65 and older is close to 80%. That means home equity is likely to be one of the most important financial assets for funding a comfortable retirement.
"My view is that HECM products will continue to grow in importance as a critical home equity extraction vehicle for our aging population of homeowners," Collins said.
Under the HW Media umbrella, Reverse Mortgage Daily will continue to deliver the independent news its audience has come to rely on, joining the HousingWire,FinLedger and RealTrends brands in reporting "news nowhere else."
Just like the dynamic, vibrant housing industry we cover, HW Media is constantly innovating to meet new challenges and take advantage of new opportunities. We're thrilled to welcome RMD Editor Chris Cow to our team and look forward to the insights and experience he brings from covering such an important sector of the housing ecosystem!
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