New Study Shows One-Third of Americans are Mortgage FREE
An article that appeared in the Los Angeles Times quoted a study done by Zillow which showed that one third of Americans do not have a mortgage. The surprising aspect to me is that not all of them are retired or close to retirement. They found that young people age 20 to 24 or 34.5% in this age group that owned homes were mortgage free. Lower priced homes in different regions of the Country are a factor for being able to either pay cash or pay the mortgage off completely.
According to the study –
“Out of the nation’s largest metro areas, Pittsburgh, Tampa, New York, Cleveland and Miami had the highest percentages of mortgage-free homeowners. Washington, Atlanta, Las Vegas, Denver and Charlotte, N.C., had the lowest.”
Filed under: Real Estate
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