Top 1% of Americans have enough money to buy 99% of US homes
As the saying goes, a rich man is nothing but a poor man with money — and real estate. More than 13% of the country’s real estate assets are owned by the wealthiest 1% of Americans — a circumstance that significantly enriched the well-heeled over the past two years of sky-high rates and housing shortages. The 1% has been so enriched, a recent Redfin analysis revealed, that their combined wealth could now feasibly purchase almost every home in the nation. The analysis further concluded that the top 0.1% alone could purchase...