Recent research reported by the Washington Post and Business Insider verify those instincts.
The charts below provide an interesting context to a statement made by HUD Secretary, Dr. Ben Carson, when he said that home owners have an average net worth of some $200,000, while renters have an typical net worth of only $5,000.
Part of the reason is age.
The younger the age group, the less likely they are to be a home owner.
The older an American gets, the higher the likelihood that they will be a home owner, and the higher their net worth tends to be. ## (News, analysis.)
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