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Total views: 48 | Word Count: 339 | Date: Tue, 28 Dec 2010 | 0 comments
The housing crisis has been at the center of the economic exchange after the Great Recession started began in 2008. But just what is purposed by the housing crisis-or mortgage crisis-and how distressed is it?
Over two million lost their homes in 2009. Out of 75 million United States homeowners, nearly 60 million have marked their home's value decline characteristically over the past two years. More than 10 million Americans are underwater on their mortgages, meaning they owe more money on their loan than their home is now gauged.
Meager planning by financial institutions, the rising of subprime loans, and a damaged housing bubble led to this crisis. Let Vote iQ be of use for you to explore this issue, from its complex economic future to its palpable political repercussions.
Number of Americans who own their own home: 75 million (est.).
Number of houses that have declined in value over the last 2 years: 59 million (est.).
Number of Americans who owe more on their mortgage than their house is now worth: 10.7 million.
Percent of borrowers nationwide whose mortgages are "up side down" (homes worth less than the
mortgage): 23.
Foreclosures in first quarter of 2010: 930,000.
Foreclosures expected in 2010: 3 million.
Percent of national foreclosures accounted for in the six states of California, Florida, Michigan, Illinois,
Arizona and Texas: 60%.
Number of new single family homes anticipated to have been sold in May 2010: 400,000.
Number of New single family houses actually sold in May 2010: 300,000.
Number of New single family properties sold in May 2009: 367,000.
Percent decrease in new home sales from April to May 2010: 33%.
Number of Existing homes expected to have sold in May 2010: 6.12 million (est.).
Existing homes actually sold in May 2010: 5.66 million (est.).
Date when government tax credit for home buyers expired: May 1, 2010.
Number of homes insured by the FHA since its inception in 1934: 34 million.
Number of houses currently insured by the FHA: 4.8 million.
Politics and Political Issues
Housing Crisis Information
The good ole IRS obtained $2.3 trillion in 2008.The top 1% of wage earners compensate of more than 40% of all of Americas taxes.Covered by the up-to-date system, a total of 51.6 million citizens (36% ..
The housing crisis has been at the center of the economic exchange after the Great Recession started began in 2008. But just what is purposed by the housing crisis-or mortgage crisis-and how distresse..