US homeownership rates declined from the start of the Great Recession through 2016.

Subprime lending practices, which fueled the housing bubble, surged after 2000.

Before the Great Recession, lax requirements to get a mortgage resulted in mass defaults that left nearly 19 million homes vacant.

Renting versus owning a home, charted by age

One-third of American households are rented. The other two-thirds are owned or in the process of becoming owned, according to 2022 data from the American Community Survey. While most people rent in their younger years, homeownership rates tend to fluctuate based on age. To see home ownership and renter rates charted by age, check out these charts.

The US unemployment rate soared to over 24% during the Great Depression, the highest in recorded history.

Historically, borrowing money from other people to purchase property was common until private financing companies—primarily building and loan associations—stepped in to offer mortgages to buyers.

The average wealth gap between homeowners and renters was more than $1.3M in 2022.

In 2024, 74% of homebuyers took out a mortgage

Debt owed on mortgages made up about 70% of US consumer debt as of 2025. Mortgage collateral ensures the lender isn’t at a complete loss if the borrower defaults. Under most mortgage contracts, the property is considered collateral under the loan. This means that if a borrower doesn’t repay the loan, then the lender can seize their property.

About 88% of all homebuyers feel their home is a good investment.

Despite record-high housing costs, Gen Z homeownership is surging

Many Gen Z homeowners have compromised on location and tightened their expenses to make buying a home possible. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

For much of human history, homeownership was primarily associated with the elite

Before the Industrial Revolution, early mortgages were rather exclusive loans given only to nobility. But as more people gained more wealth through the Industrial Revolution, banks began to take on “higher-risk” loans to everyday people.

US homes have been shrinking in recent years

Specifically, the median square footage of new single-family homes in the US has decreased in each of the past several years. In 2015, the typical new-construction home was about 2,467 square feet—but by 2024, that number had shrunk to 2,146 square feet.

Construction of small, affordable starter homes has decreased 75% since the 1970s.

The US has been through 34 recessions since 1854

From 1855 to 2020, the average US recession lasted for an average of 17 months. But in the 20th and 21st centuries, the average recession length has shortened, decreasing to 14 months.

The salary needed to buy a home in the US

Anyone who has recently explored buying a home in the US knows it's not a cheap endeavor. The median salary for the typical American homebuyer has risen to roughly $104K, up from $88K two years ago. This data visualization breaks down the household income required to buy a median-priced home in 50 major US metro areas. Learn more here.

Singapore grew its homeownership rate from 27% to 90% in less than 30 years

That progress stemmed from Singapore's founding prime minister, Lee Kuan Yew. He used a three-pronged approach to the homeownership solution: create affordable housing; make financing readily available to people of all walks of life; and help people gather down payments.

The National Housing Act established the Federal Housing Administration

During the Great Depression, 1,000 homes were foreclosed on per day, and half of the mortgages across the country defaulted. To address this crisis, President Franklin D. Roosevelt signed the National Housing Act. It established the Federal Housing Administration, which is still around today and helps protect lenders and buyers.

See the growth of US consumer debt

Americans reached an all-time high debt burden in 2024. Data compiled from The Kaplan Group shows the evolution of auto loans, mortgages, credit card debt, and student loans from 2003 to 2023, and finds that after a brief decline after 2008, the total debt burden grew rapidly.

How interest rates affect homebuying

Rising interest rates impact every aspect of buying a home. This five-minute article gives a high-level overview of the relationship between the housing market and interest rates.

To continue selling mortgages, agencies that determine how risky a loan is gave high ratings to homebuyers regardless of their actual risk portfolio.

The Federal Reserve fought the Great Recession primarily with quantitative easing and repurchasing agreements.

Despite earning less than most tech workers, educators have one of the highest rates of homeownership

Annual income largely determines homeownership. In the US, 72% of people in management roles own a home, but educators, who on average earn much less than those working in business, have the second-highest rate of homeownership.

The pros and cons of long-term renting

Soaring mortgage rates and inflated home prices have led more consumers to opt to rent instead of buying, becoming “forever renters.” This article weighs the costs and benefits of renting instead of buying. Benefits include flexibility, less upkeep, and potentially lower expenses, while downsides include less stability and reliance on landlords. Read this article and decide whether homeownership or renting is the choice for you.

The average monthly mortgage payment in the US costs 38% more than monthly rent

A recent study showed that the price gap between renting and buying grew in 38 major US metro areas since last year. The metro areas with the smallest price gaps between renting and buying include Detroit, Philadelphia, and Cleveland.

Roughly 37% of first-time US home buyers have student debt

When those people have extra money, they might wonder: Is it better to pay down my mortgage or my student loans first? This article argues that the answer depends on each loan's interest rate, among other factors.

To avoid a total collapse of the housing market, the US government took control of the two leading mortgage companies, Fannie Mae and Freddie Mac.

See how 30-year fixed mortgage rates have changed over time—from a 1980s peak of roughly 18%, to hovering around 3% during the COVID-19 pandemic.

Watch Margot Robbie explain subprime mortgages—risky loans given to homebuyers with low credit scores or no income verification.

Markets have always recovered and hit new highs following crashes

The crash that preceded the Great Depression was the most severe the US has ever experienced. It was 28 times worse than the downturn that followed the Cuban Missile Crisis.

Refinancing a mortgage is when a homeowner exchanges their current loan for a new one

Homeowners typically refinance to secure a lower interest rate and potentially a new loan term length. Debt owed on mortgages made up about 70% of US consumer debt as of 2025.

Roughly 10% of US apartments were owned by private equity firms as of 2025.

After expanding significantly during the COVID-19 pandemic, homeschooling has continued to grow since.

In 2025, the US credit rating was downgraded over concerns about the debt-to-GDP ratio.

Housing prices have skyrocketed over the last 50 years

After adjusting for inflation, housing costs have more than doubled since 1965. And based on average incomes, buyers are spending more than five times their income for a home versus buyers in 1965, who typically spent less than three times their income.

57% of future homebuyers plan to put down less than the recommended 20% on a house

Historically, experts have recommended buyers put down 20% on a house when buying. But due to rising housing costs and the cost of living, this goal is unattainable for many buyers.

The factors stirring up a home insurance storm

The cost of the average home insurance premium shot up 33% between 2020 and 2023 in the US, a trend mimicking heightened inflation. But beyond the cost, insurers are also pulling out of major markets like Florida and California, and millions of policies aren't being renewed as the number of $1B weather disasters continues to increase each year. Read up on the difficulties the home insurance market faces here.

The clearest sign of a recession is a steady increase in job losses and high unemployment.

Divorces in the US have been steadily declining over the past few decades

Despite these recent declines, divorce rates in the US remain between 40% and 50%. But there’s some nuance to those numbers. For instance, having a college degree makes individuals 30% less likely to divorce than those without one. People who attend church are also less likely to divorce. And prenuptial agreements are considerably likely to prevent contentious court battles.

'Good deflation' happens when prices naturally track with supply, meaning prices change gradually

This tends to make products and services more affordable and normalizes the standard of living. Bad deflation usually happens when there are sudden changes to either supply or demand. Near-zero [interest rates helped create the real estate bubble that sparked the Great Recession when it crashed](https://www.youtube.com/watch?v=LMo9mD8j7IA&t=91s) Because deflation distorts the value of money, deflation is particularly harmful for borrowers. Low interest rates made it easy for businesses and everyday people to take on enormous debt, which exacerbated the effects of the recession.