By the third quarter of 2011, U. S. households had accumulated $6.2 trillion in housing equity, which represents about 11 percent of their net worth. What proportion of U. S. households own their home?

Question

Gabrielle Sanchez

Social Studies

12 June, 06:36

By the third quarter of 2011, U. S. households had accumulated $6.2 trillion in housing equity, which represents about 11 percent of their net worth. What proportion of U. S. households own their home?

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Answers (1)

Know the Answer?

Hannah Steele · Answer 1

These are the options for the question:

A. one-third

B. one-half

C. two-thirds

D. three-fourths

And this is the correct answer:

C. two-thirds

Explanation:

According to the Federal Reserve Economic Data (FRED), the most recent figure for home ownership in the U. S. in 68%, almost exactly two-thirds of the U. S. Population.

Home ownership in the U. S. is similar to other advanced nations, and has been between 60% and 70% since the 1970s. The peak of home ownership being in the years previous to the 2008 financial crisis.