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Chart of the Day: More Mortgage Free

Samuel A. Kiburz, Senior Vice President, Chief Investment Officer Nov 21, 2024

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

Samuel A. Kiburz, Senior Vice President, Chief Investment Officer

Samuel serves as Senior Vice President, Chief Investment Officer for the Crews family of banks. He manages the individual investment holdings of his clients, including individuals, families, foundations, and institutions throughout the State of Florida. Samuel has been involved in banking since 1996 and has more than 20 years experience working in wealth management.

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.