When it comes to metro areas where homeowners are not burdened with mortgage debt, Detroit leads the nation—albeit for a not-positive reason
When it comes to metro areas where homeowners are not burdened with mortgage debt, Detroit leads the nation—albeit for a not-positive reason

When it comes to metro areas where homeowners are not burdened with mortgage debt, Detroit leads the nation—albeit for a not-positive reason.

According to new data issued by LendingTree, 55 percent of homeowners in Detroit do not carry mortgage debt. But LendingTree Chief Economist Tendayi Kapfidze noted the city was at the top of the list because “mortgage lenders have historically viewed housing in the city as risky and, as a result, there are fewer homeowners here. This was often driven by…