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Chart of the Day: More Mortgage Free

Crews Bank & Trust Wealth Management Services Nov 21, 2024
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Contents

Today’s Chart of the Day from ResiClub shows the percentage of homes that are mortgage-free. In 2010 it was 32% of homes, in 2023 it was 40%, and the trend is steadily heading toward fewer people having loans. Residential loans are a double-edged sword. On one hand, people can get into houses sooner and build equity sooner rather than later (positive leverage); however, loans can also be abused as sources of cash flow or as a way to overextend your means (negative leverage).
Chart of the Day

About the Author

Crews Bank & Trust Wealth Management Services
Crews Bank & Trust Wealth Management Services

Experienced professionals from our wealth management services team can help you achieve a bright financial future through investment strategies tailored to you. We’ll show you all of the options available and help you choose the ones best suited to you. We’ll provide high-quality, personal service as we work toward your goals together. Our Portfolio Managers do not receive commissions on trades; our recommendations of investments are based solely on your best interests.

Investments are not a deposit or other obligation of, or guaranteed by, the bank, are not FDIC insured, not insured by any federal government agency, and are subject to investment risks, including possible loss of principal.

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