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.