Of course the media has done quite a bit of work over the last handful of years in describing just how bad the American economy, particularly the housing market, is doing on a national scale. Often times media reports highlight that certain regions that were built up in the first decade of this century are now filled with homes owned by homeowners who are, in some areas, primarily underwater.
These media reports make this news about the scene the norm, and sometimes we have to step back and reflect on the sort of situation we’re really in as opposed to the situation that media conglomerates like to paint a picture.
Nearly 30% of American homes are owned outright
That fact is one of the most staggering facts that I have read in the last handful of months. I honestly had no idea the figure was. When people ask about the quality of the American home as an asset class, all you have to to tell them that nearly 30% of homes in this country are owned outright, and that there really is no other market on the globe that compares in terms of liquidity and total value.
Becoming part of the 30%
As I continued to work on my own mortgage and develop even better investment plans to continue to grow aggressively in income since it shapes my life as well as family members, the goal of becoming part of that 29% is now imperative.
Join me in my quest to become part of the 21 million Americans who own their homes outright!