Or more specifically, what percent of Americans use credit vs. cash to pay for their homes? Their cars?
2007-02-25 13:51:38 · 6 answers · asked by Sara E 1 in Business & Finance ➔ Credit
One hundred percent of the mortgage holders in America have a mortgage.
Sorry I could not help you further.
2007-02-25 13:54:53 · answer #1 · answered by Katykins 5 · 0⤊ 0⤋
I do. And I do use credit. When I think about how much money I pay every month in interest (money that goes for nothing; that I'll never see again), it is truly depressing. The good news is that once my home is paid for, I will be sitting atop of an investment that will only continue to grow, judging by the supply and demand for good housing. Plus, a roof over your head that is yours and you don't have to pay rent on, that nobody can kick you out of, that is peace of mind worthy of working my life away. Just barely.
The percentage that uses credit (i.e., loans) to pay for their homes might as well be 100%. I'm sure rich rock stars and such will plunk down cash for a mansion, but that is quite rare when you consider the population of the entire country. We can exclude renters by definition - you were just asking about what percentage pays cash for their homes and/or cars. Less than 1 percent, that's my guess.
2007-02-25 21:55:37 · answer #2 · answered by Anonymous · 0⤊ 0⤋
less and less each day. we have went from a cash society to a credit i pay you later society. Not enough people read and listen to people like dave ramsey ~
2007-02-25 21:59:39 · answer #3 · answered by tennessee 7 · 0⤊ 0⤋
about 90% have a mortgage
2007-02-25 21:53:57 · answer #4 · answered by Anonymous · 0⤊ 0⤋
http://www.nobullmortgage.com/mortgageadvisor/
Kindly click the link above if it suits your question.
Thank you for asking.
2007-02-25 21:56:10 · answer #5 · answered by Val b 2 · 0⤊ 0⤋
FEW WOULD BE DUMB ENOUGH TO USE CASH.........
2007-02-25 21:54:10 · answer #6 · answered by cork 7 · 0⤊ 0⤋