One-third of homeowners own their homes outright

There is nothing easy about owning a home. In particular, the part about owning it — a bank probably owns your home at the moment. While many homeowners pay mortgages each month, a surprising number of Americans actually own their homes outright, including a large number of young people. According to real estate site Zillow, about a third of American homeowners don’t pay mortgages, and many of them are young people and those who live in affordable areas, who often pay cash for their houses. While the elderly were most likely to own their homes outright, a high percentage of homeowners between 20-24 — 34.5 percent — own their homes outright. We see your dagger eyes. [Source]

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