A lot of money is tied up in people’s homes.
Those who need to tap it most, however, may have the hardest time doing so.
That money — plus appreciation in the home’s value — now equals $31.8 trillion for all households, according to the Federal Reserve, more than three times what it was in 2012.
As a result, some homeowners end up with a lot of home equity but low retirement savings.
Home equity?
Organizations:
Federal Reserve