Tuesday, August 30, 2005

Housing Statistics


  1. 23% of all homes purchased in 2004 were for investment (Source : National Association of Realtors)

  2. 13% of all homes purchased in 2004 were vacation homes (Source : National Association of Realtors)

  3. There are 72.1 million owner-occupied homes in the US, followed by 43.8 million second homes of which 6.6 million are vacation homes. There are 37.2 million investment units (compared to 72.1 million owner-occupied homes): (Source : 2003 Census)

  4. 32% of all mortgages are ARMS (Source : Mortgage Bankers Association)

  5. 9% of the mortgages in 2004 were subprime or made to people with poor credit. That's $517 billion in dollar value

  6. Zero down loans exceeded $90 billion last year.

  7. More than a third of all mortgage applications in Q1 2005 were for ARMs. ARMs could turn out to be dangerous for most consumers in a rising interest rate environment.

  8. $400 Billion : That's the value, by which the housing stock has grown in value for each year over the last four years.

  9. Non-performing loans in the mortgage business of General Motors Acceptance Corp, the finance arm that is the most profitable part of the carmaker, increased from $1.3bn to $3.4bn in 2004

  10. Homeowners under the age of 25 are the fastest group of property owners in the Northeast, according to the US Census Housing and Household Economic Statistics Division. Between 1997 and 2004, homeowners under the age of 25 jumped 11 percent -- and now these youths make up one-quarter of all property owners in the Northeast. (source : Boston)
  11. The amount Americans owe on home equity lines of credit jumped to about $491 billion at the end of 2004, up 42 percent from a year earlier, and more than triple the amount at the end of 2000.

  12. The last two quarter-point hikes by the Fed will cost home equity borrowers about $2.5 billion more in interest this year. And most economists expect at least another full-point increase by the Fed this year, meaning another $5 billion in debt service for those consumers.

  13. Not all of the $1.4 trillion in variable-rate mortgages adjust every year. But a 1 percentage point rise in rates on only half of that loan portfolio would mean about $7 billion more in interest costs to those borrowers.

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