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Real Estate Briefing - Categorized | Americas, Market Moves, Mortgage more

30pct of U.S. homeowners are mortgage-free, Zillow says

Posted on 11 January 2013

Media coverage of the real estate market has focused so much on the mortgage woes of homeowners over the past five years, you might be excused for believing that only a small minority of homeowners actually, well, own their homes — mortgage-free. But you’d be mistaken, a report released by listing service Zillow suggests.
As of the third quarter of 2012, nearly 30 percent of homeowners, or just about 21 million Americans, were free and clear of a mortgage. Zillow told AOL Real Estate that that rate is 3 percentage points lower than the number of mortgage-free homeowners in 2010, indicating that the country’s debt burden has creeped up over the last 2 years………………………………………..Full Article: Source

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