Friday Facts February 24, 2012

FRIDAY FACTS

February 24, 2012

 

  • Mom and Pop investors are taking advantage of low home prices and high rents.  In 2011, 26% of all single family homes and condos were purchased by investors, up from 21% the previous year.

 

  • In the fourth quarter of 2011, 43% of all those refinancing chose 15 and 20 year fixed rates.

 

  • NAR reports that nationally, home prices fell 2% in January compared with December for a national median price of $154,700, the lowest reading since November of 2001.  35% of all home sales are distressed.

 

  • The Center for Housing Policy reports that 25% of all working households spend more than half their income on housing.  This includes both renters and owners.

 

  • An article in RIS Media gives the following facts about Fannie and Freddie:
    • They have been overseen by the Federal Housing Finance Agency since being put into government conservatorship in 2008 to avoid failure.
    • They have almost single handedly kept the housing finance market afloat in recent years guaranteeing $100 billion per month in mortgages – 75% of all new home loans.
    • They are 80% owned by taxpayers and have received about $183 billion in bailout dollars.

 

 

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