From Daily Mail:
Mortgage-free America! Share of US homes owned outright rises to an all-time high thanks to ageing boomers paying off their record-low deals
The share of US homes that are owned outright has increased by 5 percent over ten years to an all-time high.
Last year, almost 40 percent of Americans owned their homes but a decade prior, in 2013, that number was just 34 percent, according to US Census Bureau data cited by Bloomberg.
The trend is being driven by an aging population who enjoyed relatively low mortgage rates and have had opportunities to refinance them as they aged, the outlet reported.
The number of mortgage-free single-family homes increased by 7.9 million between 2012 to 2022, to 33.3 million, according to the Census Bureau data analyzed by Bloomberg.
And of the 84.6 million owner-occupied homes in 2022, almost 33 percent were owned by people 65 or older.
That was an increase of 4.6-percent, or 2.8 million, from 10 years earlier.