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Politics : Just the Facts, Ma'am: A Compendium of Liberal Fiction
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To: Oeconomicus who wrote (32945)4/21/2005 8:49:29 PM
From: Lazarus_Long  Read Replies (1) of 90947
 
That link you give doesn't settle the issue either. It gives the ratio of mortage debt payments to disposable personal income- -not the question under consideration. That question is: what is the ratio of total homeowner equity to their total mortgage obligations; ie., if the property were foreclosed, negelecting collection expenses, would the homeowner get any money back and woud the mortgage get paid?

One reason for the drop is the increase in low-downpayment lending. During the 10-year period, the study by Frank Nothaft, an economist with Freddie Mac, on behalf of the CFA found that the ratio of mortgage debt outstanding to the value of all houses increased from 31 percent to 34 percent.
realtytimes.com
That indicates homeowner equity has declines as a percentage, but not alarmingly.
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