Homeowners without mortgages can help local economies, analysts say

01/11/2013 | Los Angeles Times (tiered subscription model)

Almost one-third of homeowners in the U.S. own their homes free and clear, according to a study by Zillow. Analysts say that is generally in line with historical norms, although the percentage is expected to grow as baby boomers enter retirement. People who own their homes outright have flexibility and more disposable income, factors that can help the local economies in areas where many of those homeowners live, analysts say.

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