Housing Market Collapse

https://www.myhomesavannah.com/blog/138551/Just+the+Facts

<span style="color: #555555; font-family: Arial, Helvetica Neue, Helvetica, sans-serif;">“Just the facts, Ma’am!” Sgt. Joe Friday - You youngsters look him up! 

- In the United States, 51.5 Million Home Mortgages are outstanding. 

- 2.5 Million of the mortgages are ARMs (Adjustable Rate Mortgage). 

- 1.5 Million are not set to adjust. 

- In 2008, a whopping 35% of the mortgages were adjustable. 

- When these mortgages adjusted as MOST did, the rate went sky high! 

  This new rate made MANY mortgage payments for borrowers unaffordable! 

- Today, Home Owners Loan to Value (LTV) is below 50%. Most have a ton of equity in their houses!   

- In 2022, there was 11 Trillion DOLLARS in new home equity created. 

- In 2008, Home Owners LOST 3.8 trillion dollars in home equity.

- The average Credit Score of Borrowers in 2022 is 751, and in 2006 it was 686.

All this makes for a MUCH healthier mortgage market today compared to 2008-10!