Delivered February 12, 2020. Contributor: Agnidip M.
To find out the number of "equity-rich" (i.e asset rich, cash poor) business owners, the number of real estate owners with less than $1000 in cash savings/or low in cash and the number of doctors or lawyers who can't manage their finances.
According to studies done by the Attom Data, there are nearly 14 million Americans who are “equity rich”, meaning they have at least 50% equity in their homes.
As per latest update available, there are 1.36 Million homeowners in the US who are underwater on their mortgage, meaning they owe the lender more than what their home is worth.
According to the federal survey of household economics and decision-making, 41 percent of Americans could not cover a US$400 emergency expense using cash in 2017.