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In keeping with a December 2017 report from real property website Zillow, the total worth of all U.S. properties in 2017 was $31.8 trillion, more than 1.5 times the nation’s Gross Domestic Product (GDP) at the time. Residence ownership, also referred to as owner-occupancy , is the most common kind of actual property investment in the United States. Based on the National Multifamily Housing Council, roughly two-thirds of residents personal their home. Often, they’ve financed the purchase by taking out a specific sort of loan known as a mortgage, by which the property acts as collateral for the debt.
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