Essential Facts for Today's Market

Essential Facts for Today’s Market
• More than 1000 banks closed in 1930 – three years before the FDIC
was created
Only 14 U.S. banks have been taken over in 2008

• There are 76 million households in the U.S. that own their home
24 million of these homes are free and clear

• There are 52 million homes with mortgages
97.2% of these are not in foreclosure
93.8% of these homes are current on their payments

On a sobering note:
• Over 20% of homeowners with a mortgage owe more than their
home is worth
• 40% of all foreclosures are non-owner occupied

How did we get here?

Sources:
o Wall Street Journal
o Moody’s Economy.com
o RealtyTrac
o NAR
o Forbes