First, the homeownership rate. Our research tells us that the rate of Americans who own their homes is somewhere between 56 percent and 67 percent, with different surveys quoting slightly different rates. According to the National Multifamily Housing Council, the rate of ownership is 65 percent, with renters at 35 percent. This concurs with the rate listed at statisticbrain.com, which claims the 2013 rate at 64.5 percent. This is an average of all Americans, with ethnic groups varying a bit (whites with a high of almost 75 percent and African Americans at a low of 46 percent). The rates in Europe are quoted too: Germany has a homeownership rate of 42 percent, France at 55 percent, the U.K. at 69 percent and Spain at a high of 85 percent. Interesting statistics as you would not imagine affluent Germany to have a rate half that of economically disadvantaged Spain, but so be it.
In spite of all the clamor about high rise buildings, condominiums and apartment living in general, the truth is that Americans prefer the single family house above all. Seven in 10 Americans live in a single family house, and 80 percent express that preference. Apartments and condos are occupied by 17 percent of Americans, but preferred only by 8 percent. What does this tell us?
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