Why some poorer states have high homeownership rates

WHY SOME POORER STATES HAVE HIGH HOMEOWNERSHIP RATES

(CNN)– Did you know some of the poorest U.S. States have some of the highest rates of home-ownership?

For example, West Virginia ranks 49th out of 50 states in personal income, but number one in terms of home ownership.

Mississippi is the poorest state and yet it ranks number 3 in homeownership.

New York on the other hand, has the sixth highest personal income rate but ranks dead last in home ownership.

Experts say big citifies are largely to blame for the inverse relationship between state’s wealth and its home ownership rates.