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Strategies & Market Trends : The Residential Real Estate Crash Index
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To: patron_anejo_por_favor who wrote (73700)3/12/2007 9:01:06 PM
From: saveslivesbydayRead Replies (1) of 306849
 
Other Frohlich statitstics distored and taken out of context:

He says:

"During the peak of the industry's growth in 2004 and 2005, about 3.2 million homes were purchased with a subprime loan, Froehlich estimated. That's about 2.8% of total U.S. households, he wrote.

There are roughly 114 million homes in the United States, so that means more than 99% of households are either making their mortgage payments or managing to pay rent. "These numbers suggest that most U.S. consumers are unaffected by the subprime debacle," he concluded."

1. 3.2 million homes purchased divided by total U.S. households? Thats dividing apples by oranges.

2. 114 million homes in U.S. - what does this have to do with anything? Many of these have no mortgage payment, and those who pay rent aren't even part of this discussion....
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