The Trading Report: 20 Wacky Statistics About the U.S. Real Estate CrisisMay 10, 2011 0 Comments
This just in from www.TheTradingReport.com - 20 wacky statistics about the U.S. real estate crisis….
#1 According to Zillow, 28.4 percent of all single-family homes with a mortgage in the United States are now underwater.
#2 Zillow has also announced that the average price of a home in the U.S. is about 8 percent lower than it was a year ago and that it continues to fall about 1 percent a month.
#3 U.S. home prices have now fallen a whopping 33% from where they were at during the peak of the housing bubble.
#4 During the first quarter of 2011, home values declined at the fastest rate since late 2008.
#5 According to Zillow, more than 55 percent of all single-family homes with a mortgage in Atlanta have negative equity and more than 68 percent of all single-family homes with a mortgage in Phoenix have negative equity.
#6 U.S. home values have fallen an astounding 6.3 trillion dollars since the housing crisis first began.
#7 In February, U.S. housing starts experienced their largest decline in 27 years.
#8 New home sales in the United States are now down 80% from the peak in July 2005.
#9 Historically, the percentage of residential mortgages in foreclosure in the United States has tended to hover between 1 and 1.5 percent. Today, it is up around 4.5 percent.
#10 According to RealtyTrac, foreclosure filings in the United States are projected to increase by another 20 percent in 2011.
#11 It is estimated that 25% of all mortgages in Miami-Dade County are “in serious distress and headed for either foreclosure or short sale“.
#12 Two years ago, the average U.S. homeowner that was being foreclosed upon had not made a mortgage payment in 11 months. Today, the average U.S. homeowner that is being foreclosed upon has not made a mortgage payment in 17 months.
#13 Sales of foreclosed homes now represent an all-time record 23.7% of the market.
#14 4.5 million home loans are now either in some stage of foreclosure or are at least 90 days delinquent.
#15 According to the Mortgage Bankers Association, at least 8 million Americans are currently at least one month behind on their mortgage payments.
#16 In September 2008, 33 percent of Americans knew someone who had been foreclosed upon or who was facing the threat of foreclosure. Today that number has risen to 48 percent.
#17 During the first quarter of 2011, less new homes were sold in the U.S. than in any three month periodever recorded.
#18 According to a recent census report, 13% of all homes in the United States are currently sitting empty.
#19 In 1996, 89 percent of Americans believed that it was better to own a home than to rent one. Today that number has fallen to 63 percent.
#20 According to Zillow, the United States has been in a “housing recession” for 57 straight months without an end in sight.