What % of homeowners actually own their home outright?

[jimhcom]

With the exception of a few people in Nevada who hold an Allodial title, the answer is 0%.

[MrRational]

Originally Posted by indy_317

That is one way to see if a home is owned outright. In most states, all this information is public record.

Originally Posted by Bideshi

And if it is, you're a target.

Which is behind that notion of adding an encumbrance (of some sort)...
even if you have a big umbrella policy (as you should) there's no reason to make it simple for them

[300braveheart]

I'm almost 23 and I own a $71K home outright. It's about 90 years old and needs a lot of fixing is the thing, has unfinished areas, etc. Trying to live at or below my means but the renovation costs are getting up there...

[UrbanAdventurer]

30% seems high to me, but if that's what it is, cool.

[gsfan]

I own mine outright, yeah me...

[texdav]

I only know that the histroical average of homeownership is 65% according to government stats.I have owned outright three homes in my lofetime at 64 that includes the present one. One has to remmeber that 10% foreclosure rate is very high in numbers.

[goodlife36]

Originally Posted by jtur88

There should be a third option, too: How many even own any equity in their home?
Really, American households come in four, no five categories:

1. Rent
2. Mortgaged, owe more than value
3. Own equity, but still mortgaged
4. Own outright, clear of mortgage
5. Also own a second home or vacation property, or an income-generating rental.

3

This post should be moved to the real estate section. I would be curious to see the results.