PROPERTY & RIGHTS • LAND OWNERSHIP
Thirty-four point nine trillion dollars. That’s the total equity Americans now hold in their homes. Just their homes — not their 401(k)s, not their savings, not Wall Street. Real walls, real roofs, paid down brick by brick over decades. The Fed put the new figure out two weeks ago. In 2011, after the crash, that same total had collapsed to about $8 trillion. If you own your home and you bought it before 2020, this is your story. About 40% of American homeowners now owe nothing at all on the place.
Four times the post-crash bottom — and two out of every five American homeowners no longer owe a dime on the place.
Source: Federal Reserve Z.1 Financial Accounts of the United States, Q1 2026 release (June 11, 2026); US Census Bureau 2024 ACS on mortgage-free homeownership.
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