My Coach sent us these statistics today. We wanted to share them with you our friends and clients.
This is an interesting fact about how we really stand with foreclosures. The Media hype is just making it sound like we are in the dumps. Don't get caught in that mess!
30% of all homes in America have no mortgage; that means they are owned outright.
20% of all homes in America are owned by investors and are currently rented.
50% of all homes in America have a mortgage.
.05% of all the homes that have a mortgage are in foreclosure.
Those are the facts.
If you watch CNN or many of the other major media outlets, you would think it was 1 out of every 2 homes being repossessed, when the fact is only 1 out of every 400 is in foreclosure and 75% are in California, Arizona, Nevada and Texas.
So, to the media out there.... Just the facts please!
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Stephen, What a great post. Amen, amen amen! Thanks for sharing this much needed information! Elizabeth
Thanks for sharing, these are the type of numbers that buyers and sellers need to hear in order to combat the bad news barrage in the media. In addition to the stats from your coach you could add that the total mortgage debt in America is around 9.9 trillion dollars. Of this, 75 billion is in the sub-prime category -- that represents three quarters of one one-hundredth of a percent ...
Great info! The media makes it look much worse than it really is!
I like the way you put that. It sounds so much better!