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Strategies & Market Trends : Mish's Global Economic Trend Analysis -- Ignore unavailable to you. Want to Upgrade?

To: orkrious who wrote (21929)	1/21/2005 1:24:41 PM
From: John Vosilla	Read Replies (1) \| Respond to of 116555

<it wouldn't surprise me if 40% of the people over age 60 owned their homes free and clear, but 40% of the total?> That would make more sense. I bet it varies dramatically in different regions and even property types within those regions. Probably the biggest bust will tend to be in highly overvalued bubble markets with a ton of new construction and a younger first time home buyer with little equity.

To: orkrious who wrote (21929)	1/21/2005 1:35:15 PM
From: KyrosL	Respond to of 116555

It's true. 40% of US homeowners have no mortgage. This actually increases the odds of crisis, if house prices drop significantly. The average equity right now is 55% for all homes. But the average equity is much lower for those homes with mortgages.