Catherine Zeta-Jones

Catherine Zeta-Jones, born in Swansea, Wales, to working-class parents, came from humble beginnings. She told The Sunday Times that she and her husband, Michael Douglas, enjoy a life of homeownership with four properties: one in Canada, one in Spain, and two in New York — a country house and an apartment. She said, “I know it sounds very jet set, and I love to surround myself with beauty but it’s not excessive, it’s very comfortable.” The couple spends much of their time in Spain. Michael, now 80 and retired from acting, says he likes to “watch my wife work.” The lifestyle of celebrities like Catherine Zeta-Jones and Michael Douglas, with multiple properties around the world, stands in sharp contrast to the reality for most people. Their story raises a bigger question: what does homeownership actually look like for ordinary Americans today? (RELATED: Kimmel’s Italian Citizenship: Turning Away From America) How Many Americans Are Homeowners? According to Realtor.com, 65.1% were homeowners in the first quarter of 2025. That figure is down 0.06 percentage points from the last quarter of 2024 and 0.05 from the same time last year. The rate has stayed above 62.9% since 1965, with the peak at 69.2% in 2004. Housegrail.com shows that home ownership varies by region: 62% in northeastern states like Maine and Pennsylvania 67% in the southeast and south-central U.S., from Virginia to Texas 71% in north-central states like North Dakota and Minnesota 60% in the west, from Washington to New Mexico Mortgages and Second Homes In 2023, only 39.8% of homes were mortgage-free. Mississippi and West Virginia had the highest share of mortgaged homes. California, Washington, Utah, Colorado, Virginia, and Massachusetts had the lowest. Housegrail states, “approximately 2.7% of the 78.7 million occupied homes are second homes — about 1.5 million properties. Vacant homes make up 11% of the national total.” While many Americans struggle to pay off a single mortgage, a growing number of wealthy buyers are looking beyond U.S. borders and investing in property overseas. Americans Buying Property Abroad A 2022 Coldwell Banker survey found that 67% of affluent Americans already owned investment property abroad. The largest share was held by those 55 and older. Overseas properties owned by U.S. citizens: 47,000 homes in 2019 29,800 homes in 2020 53,500 homes in 2021 61,000 homes in 2022 Top destinations to buy a home: Central America – 23% (Belize 16.2%, Costa Rica 15.2%, Honduras 15.2%, Panama 14.3%, El Salvador 13.7%, Guatemala 13.2%, Nicaragua 12.2%) North America (Canada & Mexico) – 20.5% Asia – 20.4% South America – 18.1% Europe – 14.1% Australia & New Zealand – 10.8% Caribbean – 9.4% Main reasons for buying a home abroad: rising cost of living (26.5%), surging home prices (26.5%), political climate (25.6%), and strong dollar (20.8%). While affluent buyers like Catherine Zeta-Jones and others expand their portfolios abroad, younger generations in the U.S. are finding it harder than ever to afford even a first home. The Homeownership Reality for Young Americans Younger generations are far less likely to own homes than their parents at the same age, according to Motley Fool Money: Millennials (age 27–42 in 2024): 51.5% own homes, much lower than Gen X and Boomers at the same age. Baby Boomers: At age 30, around 60% owned homes. By their early 40s, about 70%. Gen Z (under 27 years old): Only a small share own homes, in the single digits to low teens. These numbers show a sharp generational divide, but they also beg the question: why are young Americans falling so far behind? Why Young People Struggle Housing Costs: Home prices have outpaced wages. Student Debt: Younger buyers carry more education debt. Delayed Milestones: Many aren’t getting married or having kids. If they do, it’s delayed. Mortgage Barriers: High interest rates from 2022–2024 worsened affordability in recent years. Young Americans face steep barriers, making homeownership — once a standard milestone — harder to reach than ever. (RELATED: Post-COVID Homeowners Are In Dire Financial Situation And No One Is Talking About It) The Future of the American Dream From celebrities like Catherine Zeta-Jones with homes around the world to young Americans struggling to buy their first home, housing in 2025 shows a sharp divide. For many, homeownership is still the dream. But for younger generations, it feels further away than ever. For homeownership to become more attainable, interest rates must come down. Higher borrowing costs have crushed affordability and reduced purchasing power.  Lower rates would ease monthly payments, open the market to first-time buyers, and make homeownership a reality for those just starting out. Without real relief, the next generation risks becoming a generation of renters, locked out of ownership and the wealth-building it brings. With the right economic conditions, however, young Americans could finally begin to turn the tide. Forget the Headlines. Challenge the Script. Deliver the Truth. At The Modern Memo, we don’t tiptoe through talking points — we swing a machete through the media’s favorite lies. They protect power. We confront it. If you’re sick of censorship, narrative control, and being told what to think — stand with us. Share the story. Wake the people. Because truth dies in silence — and you weren’t made to stay quiet.