Home ownership rate is the percentage of homes occupied, not the percentage of people who own their homes (or even have positive equity in them).
From what I could find, 1/3rd of the adult population rents, another 3rd have mortgages with negative equity, and 1/3rd have positive or paid off mortgages. I couldn’t find the number who fully own their homes.
Either way all of the above categories could still be house-poor, meaning you’re spending most of your income on housing and upkeep, and could still be a paycheck away from homelessness, unable to pay rent/mortgage. I had a relative who fully owned her home, but was unable to pay the property tax and her house was seized.
Home ownership rate is the percentage of homes occupied, not the percentage of people who own their homes (or even have positive equity in them).
From what I could find, 1/3rd of the adult population rents, another 3rd have mortgages with negative equity, and 1/3rd have positive or paid off mortgages. I couldn’t find the number who fully own their homes.
Either way all of the above categories could still be house-poor, meaning you’re spending most of your income on housing and upkeep, and could still be a paycheck away from homelessness, unable to pay rent/mortgage. I had a relative who fully owned her home, but was unable to pay the property tax and her house was seized.