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Median Household Wealth Takes Big Dip

by Roberts Johnson and Rachel Diedrich, Real Estate B

Daily Real Estate News | Tuesday, June 12, 2012

From 2007 to 2010, American households lost nearly 39 percent of their wealth, reaching 1992 levels (when adjusting for inflation), the Federal Reserve reports.  Homes by email

How much households were affected depended on how they spread out their investments, where they lived, and how much they earned, analysts say.  How much is your home worth?

"Richer people owned more bonds that didn't get killed," Scott Hoyt, an economist at Moody’s Analytics, told USA Today. "For middle-income households, their primary asset is their house, and the government stimulus backstopped incomes at the low end." 

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Americans lost about $7 trillion in home equity during the housing crisis, starting in 2006, the Fed notes.

The overall losses in median households’ wealth wiped out any gains households that had been seen in the late 1990s during the technology and Internet boom and the post-2000 housing boom, the Fed noted in its report.  Get your daily bank owned Denver homes

While incomes started improving somewhat in 2011, economists note that incomes began regressing again this year.

"Incomes went down more during two years of this recovery than during the recession itself," Gordon Green, co-founder of Sentier, told USA Today. "I don't think we've seen anything like this."

Source: “Fed: Recession Kicked Median Household Wealth to 1992 Level,” USA Today (June 11, 2012)

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The REO Rental to Own Joint Venture Program Stats

by Roberts Johnson and Rachel Diedrich, Real Estate B

The REO- Rental to Own Joint Venture Program.

What the statistics show us.

Between the GSE, Government Sponsored Enterprise, and HUD, Department of Housing and Urban Development, there are more than 250,000 REO properties for this new program.

Fannie Mae, Freddie Mac, HUD has put about 2,500 home up for auction for the new REO-Rental Program.  Atlanta, GA, however has the highest number in the mix, 572 properties making up 23% of the total up this first sale.

1.75 million Homes are currently unoccupied.

Amherst Securities Group last fall suggested that there are more than 7 million shadowed properties.


Approximately 12 million homeowners, more than one out of five with a mortgage, are underwater. In

Georgia 30% of mortgages are in negative equity position.


1.3 million Consumer bankruptcies were filed in 2011


Nationally, house prices have plunged about 30% in nominal terms from their peak and nearly 40% in

Real (inflation-adjusted) terms. By some estimates, declines in house prices have reduced homeowners’

Equity by more than 50% in the aggregate since the peak of the housing boom, resulting in more than a

$7 trillion loss of household wealth.


Experts reported 2.8 million homeowners lost their home in 2009 with a forecast of 3.8 million during

2010 and 9 million over the next four years.


Three in 10 young adults live with parents, highest level since 1950s


Outstanding student loans are now about $870 billion, a bigger debt pile than credit card balances

($693 billion) and auto loans ($730 billion). And student debt was the only major loan category growing

in the middle of last year. What kind of balances do people carry into their 30s and 40s? The data shows

that most people (66%) who carry student debt are under 40. Sixty-two percent of borrowers have loan

balances under $25,000 and 43% have balances under $10,000. Of the 37 million borrowers who have

outstanding student loan balances as of third-quarter 2011, 14.4 percent, or about 5.4 million borrowers,

have at least one past due student loan account. Together, these past due balances sum to $85 billion, or roughly 10 percent of the total outstanding student loan balance.  The deferred student loans are not included in the past due balances.

Today’s life expectancy is 78.2.

40.3 million people are 65 and older with 10,000 turning 65 daily.  The south has the greatest number oat 14.9 million.

There are 7.4 million people age 75 – 79.

Those that are between 45 – 64 equal 81.5 million, 26.4 percent of the total U.S. population.

74.2 million people are between the ages of 18 – 44.

Information provided by Cathy McDaniel. 5/2012.

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Roberts (Bobby) Johnson
Cool Denver Homes, Inc.
2314 Curtis Street
Denver CO 80205
Roberts Cell: (303) 525-7599
Fax: (303)9635335

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