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

Mortgages evolved from exclusive agreements for the wealthy into a key part of homeownership today

The word "mortgage" comes from medieval French, meaning "death contract"—but the modern American mortgage has a more recent and complicated history. This explainer looks at how mortgages evolved from exclusive agreements for the wealthy into a key part of homeownership today, including the impacts of New Deal policies, redlining, and the Fair Housing Act.

Buyers used to borrow money from people within their communities to purchase property

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.

For most of human history, property rights were in the elite’s hands

Humans learned to domesticate dogs long before they formed the concept of private property. But by the era of the ancient Greeks and Romans, property law and ownership became more sophisticated.

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

In 2004, the US homeownership rate was 69%. When the bubble popped in 2007, due to a variety of factors (including the prevalence of subprime mortgages) the Great Recession began. Foreclosures increased, as did the ratio of renters to homeowners. In 2016, the homeownership rate was at roughly 63.4%.

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

In 2022, the median wealth gap between homeowners and renters was closer to $390K—a significant divide. Over the past three decades or so, the median wealth gap between homeowners and renters increased by 70%, while the average wealth gap increased by more than 250%.

US housing costs have risen by roughly 175% between 1991 and 2026—but a growing number of Gen Zers are becoming homeowners anyway. In 2025, 4% of homebuyers were Gen Z, up from 3% the year before.

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.

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.

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.

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

Almost half of those apartments were purchased after 2021. However, local community groups across the country are experimenting with ways to put residential and commercial real estate in the hands of community members.

Some argue that credit reporting promotes economic inequality in the US

Although today's credit scoring system is much more objective than, say, the credit assessment system of the 1700s, some argue there's still room for improvement, with critics saying the current system is still discriminatory. For example, while mortgage payments have long been automatically reported to credit bureaus, rent payments (the primary housing expense for most lower-income Americans) historically haven't been reported unless a payment was missed.

Money—not land—became Europe’s key economic driver in the Middle Age

During the medieval commercial revolution, money gradually replaced land as the primary economic commodity. Expanding trade, markets, and finance transformed Europe’s economy—laying foundations, historians argue, that were essential for the later Industrial Revolution.

High-heeled shoes only became associated with femininity in the 18th century.

High heels originated as practical men’s footwear—used by Persian cavalry and later adopted by European elites, such as Louis XIV, as symbols of power and status. Only in the 18th century did heels become associated with femininity, before periodic male revivals.

Some billionaires invest in extreme home upgrades for their estates

Car elevators, spas, movie theaters, bowling alleys, nightclubs and panic rooms are just some of the lavish upgrades the 1% builds in their homes.

American Express was the first company to offer 'gold' cards to borrowers

American Express began offering gold cards to affluent consumers in 1966. However, other credit card companies began offering similar, premium cards in the 1980s, which quickly became a status symbol for wealthy Americans.

Usonian design was invented as a response to Americans’ financial struggles

Around the time of the Wall Street crash of 1929 and the Great Depression, Frank Lloyd Wright sought to create homes that made life easier for those struggling financially. Usonian homes are typically characterized by simple materials, small square footage, and natural light.

The origins of modern family offices date back to the 1500s

Wealth management for families with massive fortunes has evolved over the centuries, with the Rockefellers establishing the first single-family office in 1882.

The Open Era redefined both men's and women's tennis

The early days of modern tennis were largely enjoyed by the upper class, who had money for lawns to play on. More often than not, the best players competed for the love of the game, not money. This led to Grand Slams limiting the competitions to amateur athletes. Things changed in 1968, considered the start of the Open Era, when professional players were permitted to play.

Roughly 43 million US borrowers owe roughly $1.7T in student debt, the second-largest source of consumer debt behind mortgages.

Financial solutions for HENRYs

The term HENRY stands for "high earner, not rich yet." People who fall into the high earner, not rich yet category tend to have some significant blockers keeping them from accumulating wealth, such as lifestyle creep and student debt. This article outlines some financial planning advice specifically for those in the HENRY category—read it here.

Annuity owners are mainly middle-class people looking to supplement their savings

Gallup surveyed people who own annuities and found that annuity owners skew older and that the overwhelming majority bought the contracts to guarantee income during their retirement years. The annuity owners also said the contracts provide them with peace of mind.

Why endowments took off at the turn of the century

After the Civil War, economic growth boosted philanthropy, much of it ending up in universities and colleges. Charles Eliot, the longtime president of Harvard, realized a university’s success was determined by how much money it could hold in the endowment. His approach to endowments radically changed their role in the modern university.

'Vacation' wasn't common for Americans until the mid-1800s

Although we now consider vacation to be an integral part of the summer season, the concept didn't exist in the US until the middle of the 19th century. Even then, it was still a luxury and didn't become a middle-class norm until the early 20th century.

Austen grew up as a member of the 'pseudo-gentry'

Her family grew up near the upper crust of society, but was never fully of it; at times, the family struggled to make ends meet. Austen scholar Dr. Lizzie Rogers said this made her part of the "pseudo-gentry," a contemporary term naming a respected group that still fell short of the aristocratic "landed-gentry." Rogers believes that perspective informed the writer's novels, which often dealt with social conventions.

The American middle class started imitating high-society weddings in an attempt to establish its status around the 1920s

Marshall Field's, a retailer based out of Chicago, published the first bridal registry in 1924. Brides magazine—which was geared to women creating elaborate wedding celebrations—debuted in 1934. This article dives into more of the wedding-industrial complex's history.

Robber barons, the monopolistic business people of the 19th century, explained

“Robber baron” was a term used to describe 19th-century businesspeople who engaged in monopolistic business practices and didn’t face much business regulation, resulting in significant wealth.

In its famous catalog, Sears sold $600 DIY house kits from 1908 through the 1940s, resulting in an estimated 100,000 'Sears and Roebuck homes.'

Frank Lloyd Wright's houses are historically hard to sell because they're old, subject to local landmark commissions, and often unfashionable

Venture capital is a form of funding provided to early-stage companies with high growth potential, typically in exchange for an equity (or ownership) stake

The power and influence of the American presidency have expanded significantly over time—far beyond what the founders envisioned.

The idea for the Federal Reserve was conceived in secret in 1910—with bankers donning duck hunt gear for disguise while traveling to a remote country club on Georgia's Jekyll Island

Massive 3D printers have been used to build homes by stacking layers of 'concrete toothpaste,' a fire-resistant material that effectively insulates against outside noise.

For centuries, it was common to sleep in two shifts: a few hours at the beginning of the night, and a longer period beginning around midnight

The first steps to rebuilding your credit score include getting to know exactly what's on your credit report and figuring out how far you are from the '700 club,' or 'good score' range.

Long before Major League Baseball began allowing instant replay for balls and strikes, an umpire reluctantly used the technology to determine whether a hit was a home run, a move that inadvertently ushered in a new era for the sport.

The Brothers Grimm were lawyers before they were storytellers, but became interested in fairy tales as they began investigating how rules and customs had been passed down through cultures.

The first horror movie is believed to be George Méliès' 1986 short 'The Haunted Castle,' which pioneered the use of special effects

Jimmy Carter signed a 1978 bill that legalized home brewing, a move credited with kick-starting the craft beer industry.

The first line of 'immortal' human cells, which can divide indefinitely and are used in scientific research, was nonconsensually taken from a Black woman.

After the Boston Tea Party, colonists switched to coffee, which became the main morning drink for revolutionaries.

Animal phobias are likely the most common type of phobias, followed by an extreme fear of heights.

A Yale student wrote a profound essay about the consulting industry's influence on elite college students that was published in a book of her writing after she died in a post-graduation car accident.

Telehealth demand for GLP-1s for weight loss is booming as consumers seek easier access.

A vending machine run with Anthropic's AI went out of business after it was convinced to give away items for free and sell a video game console.

Take a 3D tour of the Hajj, Islam's annual pilgrimage to Mecca, undertaken by over 1.5 million Muslims.

Memecoins are a type of cryptocurrency—a form of digital currency with a wide variety of uses—created around popular 'memes,' or viral internet jokes.

Graffiti dates back to at least ancient Pompeii, where citizens scrawled messages to one another on public walls

Dozens of S&P 500 stocks, including Coca-Cola and Walmart—known as the dividend aristocrats—have increased dividends every year for 25 years

The term 'algorithm' originated from the Latinized name of al-Khwārizmī, a 9th-century mathematician whose works introduced Arabic numerals and the decimal-based numeral system to Europe and whose treatise 'Al-Jabr' gave algebra its name.