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>Now look at real-world data for how many (few) residences are actually owned free and clear. It looks to be close to 38% in the U.S.? https://financialcomple
by floxy 3y ago
>Now look at real-world data for how many (few) residences are actually owned free and clear.
It looks to be close to 38% in the U.S.?
https://financialcomplete.com/how-many-homes-are-paid-off-in-america https://financialcomplete.com/how-many-homes-are-paid-off-in...
https://www.forbes.com/sites/brendarichardson/2019/07/26/nearly-40-of-homes-in-the-us-are-free-and-clear-of-a-mortgage/?sh=6f12603c47c2 https://www.forbes.com/sites/brendarichardson/2019/07/26/nea...
- ghaff 3y agoGiven that a typical US fixed rate mortgage is 30 year--and I'm assuming most people don't buy until maybe their 30s and don't pay off early--that doesn't see like a particularly low number? Presumably, especially these days, anyone with a fixed rate mortgage from even a few years back is not paying anything down early.