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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: Elroy Jetson who wrote (25541)12/1/2004 2:07:28 AM
From: John VosillaRead Replies (3) of 306849
 
If my math and logic are correct then the other 60% is up to their eyeballs in debt carrying a huge mortgage with an average loan to value over 90% to arrive at a 55% nationwide average LTV I see constantly given.

<The information that roughly 40% of American homeowners own their homes free of debt comes from the "Statistical Abstract of the United States."

This is a very useful book published each year by the Federal Government with information from the Census, Federal Reserve, and other governmental agencies. It's available in virtually every library.

The 40% without a mortgage consists primarily of:

a.) people wealthy enough to have never needed a mortgage;
b.) older people who have paid off their mortgage.>
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