Housing Facts from October 2018
- Half as many – US homebuilders started construction on 13.7M homes between 1998-2007, 1.3M per year. Between 2008-2017, only 6.1M started or 611,400 per year. – Census Bureau
- Equity – The average loan-to-value ratio in the US housing market as of June 2008 was 55%. In other words, the average home had 45% of equity behind it. The average LTV this year was 40%, or 60% of equity behind it.
- Leave now – During the depths of the mortgage crisis, 1,050,500 homeowners had their homes repossessed during 2010. Just 133,290 home were repossessed during the first 6 months of 2018. – Attom Data
- It just depends – The median rent today for a 1-bedroom apartment in San Francisco is $3,400. In Omaha, NE it is $825 and in Charlotte, NC it is $1,275. – GOBankingRates
- Debt forever – 44% of homeowners between the ages of 60-70 who have outstanding mortgage debt anticipate having some mortgage debt when they retire. – American Financing
- Start Saving Now – A child born in 2018 that begins kindergarten in the fall of 2023 would attend college between the years of 2036 and 2040. If that child attended an average public in-state 4-year college and if the annual price increases for public colleges experienced over the last 30 years (+5.4% per year) continued into the future, the aggregate 4-year cost of the child’s college education would be $237,262 or $59,315 per year. – College Board
-CHECK US OUT ON SOCIAL-