Most manufactured housing industry professionals that deal directly with the public for a year or more instinctively know that the older a person gets, the higher their income and net worth tends to be.
Recent research reported by the Washington Post and Business Insider verify those instincts.
The charts below provide an interesting context to a statement made by HUD Secretary, Dr. Ben Carson, when he said that home owners have an average net worth of some $200,000, while renters have an typical net worth of only $5,000.
Part of the reason is age.
The younger the age group, the less likely they are to be a home owner.
The older an American gets, the higher the likelihood that they will be a home owner, and the higher their net worth tends to be. ## (News, analysis.)
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Submitted by Soheyla Kovach to the Daily Business News for MHProNews.com.