This story is part of our weekly series on how the country is building houses, how it is making housing more affordable and how people can get involved.
When it’s all said and done, more Americans will own homes than ever before, according to a report released Thursday by the Federal Reserve Bank of Dallas.
In a year when housing prices surged, the Fed said, the number of Americans owning homes has more than doubled from 1.6 million to 4.1 million.
At this pace, by 2040, more than 2 million people will own houses in the United States, up from more than 1 million today.
The number of homes in the U.S. owned by those aged 55 to 64 increased by more than 5 million to 1.3 million from a year earlier.
Meanwhile, the percentage of households that own homes has declined, from 62.9 percent in 2007 to 59.3 percent in 2016.
But there are still more Americans than ever living in houses.
At least 7 million Americans are currently living in homes owned by others, and the number is expected to increase to 7.5 million by 2030.
The U.K. and Ireland are the only countries with higher levels of homeownership than the U of A, with 2.7 million and 2.4 million, respectively.
The United States has a high share of its population living in single-family homes, where fewer than half of all households own a home.
This has created the potential for a housing shortage, said Daniel Krawczyk, senior economist at the National Association of Realtors.
In his research, he has found that housing is the primary reason that households have to work.
The median age of U. S. households has gone up over the last decade from 27 to 34, according the report.
It also means that families that have children tend to be less able to live on their own, with children living in their parents homes and their parents being able to spend time with them, the report said.
Krawbzyk said that while homeownership has become more prevalent, it is still a relatively new concept.
He pointed out that in the 1970s, more people lived in houses than in cars, while cars became the predominant mode of transportation.
“But now, a lot more people have cars, and they don’t necessarily have houses,” Krawszyk said.
“They are going to need to find ways to be self-sufficient.”
The Fed said that in 2019, about 1.7 percent of the population owned their homes.
The proportion of households owning their own homes is higher in cities, and that number is projected to rise in 2020, the most recent year for which data is available.
The report said that as the number in households has risen, the cost of renting has also risen.
“It’s not uncommon to have a household with no cash on hand and a credit card or bank account,” the report says.
“The cost of rent in 2019 was $1,700 a month, which is higher than the average annual rent of $1 (per month) for households in the middle quintile,” the Fed report said, adding that the percentage who had no income in 2019 had risen from about 2 percent to 3 percent.
The cost of mortgage payments, on average, rose by $1.1 a month in 2019 from 2016 to 2019, the same year the median household income increased by 2 percent, the Federal Deposit Insurance Corporation (FDIC) said.
Homeownership in the cities The number in cities that are home to more homeowners is growing, the GAO said.
In the United Kingdom, the share of households with homes is more than triple that in cities with the lowest rate of homeownerships, the UBS Group reported in September.
The average mortgage payment in the most populous city in England rose from $3,700 to $3.9 million between 2015 and 2019.
The typical home price rose more than 20 percent in both the most and least-populous cities.
In Chicago, the average mortgage cost increased by $2,500 to $4,200 a month between 2015 to 2019.
Home ownership in the country’s more expensive cities is also growing.
The Atlanta metro area, which includes Atlanta and surrounding suburbs, saw the largest increase in homeownership from a decade ago, to more than 10 percent of its total population in 2019.
That’s up from 6.7 per cent in 2007, and it was the second-highest percentage in the US.
In New York City, home ownership is up from 2.9 to 4 percent of total residents between 2015.
The rate of house-renovation work in New York’s most expensive borough increased from about 1,000 in 2015 to 1,900 in 2019 to nearly 2,000 today.
In other parts of the country, home-building is booming