How many people really own their own home? I did some searching around and the articles I came up with said up to around 30% of americans own their own home out right, free and clear, no rent no mortgage and only pay property tax to keep it. Allegedly half the people in my age range own their own home. Problem is I have never known anyone my age or younger who actually owns their own home with out some arrangement of paying someone else to stay in it. US center of commerce says that up to "70% of people own their own home" but we know what that means (the bank really owns it in most of those cases). US census provided the data saying who owns their home free and clear. Maybe some of the people who answered the question don't have any understand of the meaning of "owning something out right" due to lack of experience of really owning anything at all. I think its a case of mass delusion or misunderstanding and these people are simply confusing possession and ownership assuming they mean the same thing. The only people I know who own their own home are mostly in the 60+ age range and the others all in their late 50s. I also find that people under 25 supposedly have a 20% free and clear ownership rate. HA! I was born at night, but I wasn't born last night. I don't think I can believe that. My wife and I own our own house only because of an inheritance. The wife complains that its a small piece of shit, but its our piece of shit. We could sell it and it would make for a down payment on a normal house and we could "afford" a $250,000 loan for 30 years but I really don't feel like putting the economic slavery chains on working my ass off just to be forced to retire just in time to be broke, disabled and have 1 foot in the grave. So I am going to be investing in turd polish. The way I figure it, I could take a year or 2 worth of mortgage payment interest (no barrowing any money) and fix the place up to what ever we want. Then take the $9,000 or so dollars per year I would be paying the bank in interest on an over valued rat race home and spend it on stuff I want, I mean stuff that my wife wants. Either way its better than giving it to the bank. I am sure one day will move, but my plan is buy a place with cash and fill any of the cash gap using a loan secured with something other than the property its self. Our piece of shit house is only worth about $25,000 to $30,000 to the bank. Just the piece of mind of peace of mind of owning your own house and not having to work a bunch of over time all the time "to get ahead" is invaluable.