Federal Reserve

The Federal Reserve Board?s 1949 Survey of Consumer Finance shows: 20,000,000 nonfarm families own their own homes; the equity in these homes is $132 billion; the average equity value is $7,000; of these 20,000,000 homeowners, 55% have no mortgages; there are now more homeowners than renters; 6,000,000 have been added since the war.