What is wealth quintile4/14/2024 On the other end of the chart, mortgage debt is 2.5% of the top 1%’s net worth. People in the bottom 20% are less likely to own homes mortgage debt represents 8% of their net worth. Mortgage debt represents around 13 to 14% of the middle 60% of America’s net worth. Net worth is equal to the total amount of assets owned minus the total liabilities owed.įor the middle 60% of earners, mortgage debt is highest relative to overall net worth. One way to evaluate the relative size of mortgage debt is taking it as a percentage of overall net worth. Mortgages represent the amount of money households still owe for their homes, and the financial burden of these mortgages are highest among the middle 60% of earners (including the second, third, and fourth quintiles). Many households put a significant amount of their wealth into real estate, which is reflected in both assets and liabilities. For many Americans, their biggest source of wealth is their home.
0 Comments
Leave a Reply.AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |