Economic predictions are being made in India which hinge on the growth of the reverse mortgage there. It is believed that the potential of the reverse mortgage market in the country will triple over the course of the next seven years.
At the current time, the market potential for reverse mortgages in India is just shy of $40 billion. That's a nice chunk of change. However it's nothing compared to the $113 billion that the market is predicted to reach in 2015.
The reason that the market is expected to grow so much during that time is because a significant number of senior citizens are going to be entering retirement age which is when it becomes possible to access the reverse mortgage loan.
The implication for this prediction is that there is a wide market for reverse mortgage lenders to tap into in India. However it is unclear whether the market in India is equipped to deal with this potential. Changes will have to be put in place in the economy to make the access to this money a reality for India's seniors.
Question of the Day: Do you believe that the U.S. reverse mortgage market is more or less stable than the market in India?
