The following graphic summarizes the U.S. housing market. The red boxes are a small percentage of the total, yet are receiving all the media and political attention.
Let's not forget the overwhelming positives:
- 22% of American households own their home free and clear of any mortgage
- 34% of American households own their home and have equity in it
- 34% of American households rent
That totals 90% of American households.
Of the 40.6 million who rent,
- 42% rent in a small apartment building
- 27% rent a single family home
- 20% rent in a large apartment building
- 6% rent a condo
- 5% rent a mobile home, boat, etc.
Source: http://web.realestateconsulting.com/us-housing-summary-2012/
