> For the vast majority of people the only piece of property they own in this sense is their home
I agree with what you said, and just wanted to make a minor(ish) correction: if you exclude homes bought w/ a mortgage which is still ongoing, probably the "vast majority" part does not hold, anymore.
They're still considered to own their home, even when they have a mortgage on it. Though, I'm not sure how many people do own their home at all - so I probably should have said "For the vast majority of people who own any property at all in this sense, the only piece of property they own is their home". I think the majority probably own no property in the sense of assets.
