Question

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?

Answer 1

Answer:

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.