twinjayhawks
Silver Member
I did some research on the internet on Percentage of Americans with Mortgages... I am not sure if this is correct but it's probably close:
1999 62% with Mortgages
2011 90% estimated with Mortgages
My father told me when he was a kid it was very rare for anyone to have a mortgage (1940's). I know he grew up in a rural area so that probably changes as you move to the cities.
Bottom line... I think with the way the economy is today and where it seems to be headed that being debt free is the only option. Our Debt free day is 1/1/18 if I don't pay any extra with the payments. I hope to make that date 1/1/15 if everything goes right. My debt is just for my land since I have built our home with cash.
What is your opinion on this and what is your "Debt Free Date"?
1999 62% with Mortgages
2011 90% estimated with Mortgages
My father told me when he was a kid it was very rare for anyone to have a mortgage (1940's). I know he grew up in a rural area so that probably changes as you move to the cities.
Bottom line... I think with the way the economy is today and where it seems to be headed that being debt free is the only option. Our Debt free day is 1/1/18 if I don't pay any extra with the payments. I hope to make that date 1/1/15 if everything goes right. My debt is just for my land since I have built our home with cash.
What is your opinion on this and what is your "Debt Free Date"?