Barack Obama and Housing Crisis in The U.S
Over two million lost their homes in 2009. Out of 75 million U.S.A homeowners, nearly 60 million have seen their home's value dwindle factually over the past two years. More than 10 million Americans are up side down with their mortgages, meaning they owe more money on their loan than their home is now valued at.
Shoddy planning by banks, the growing number of subprime loans, and a busted housing bubble led to this crisis. Let Vote iQ help you to examine this issue, from its complex economic experiences to its palpable political repercussions.
Number of Americans who own their own home: 75 million (est.).
Number of properties that have declined in value over the last 2 years: 59 million (est.).
Number of Americans who owe more on their mortgage than their home is now priced: 10.7 million.
Percent of borrowers nationally whose mortgages are "up side down" (homes worth less than the
mortgage): 23.
Foreclosures in first quarter of 2010: 930,000.
Number of Foreclosures expected in 2010: 3 million.
Percent of national foreclosures accounted for in the six states of California, Florida, Michigan, Illinois,
Arizona and Texas: 60%.
Number of new single family houses predicted to have been sold in May 2010: 400,000.
Number of New single family houses actually sold in May 2010: 300,000.
Number of New single family homes sold in May 2009: 367,000.
Percent decrease in new home sales from April to May 2010: 33%.
Existing homes expected to have sold in May 2010: 6.12 million (est.).
Number of Existing properties actually sold in May 2010: 5.66 million (est.).
Date when government tax credit for home buyers expired: May 1, 2010.
Number of properties insured by the FHA since its inception in 1934: 34 million.
properties currently insured by the FHA: 4.8 million.
Questions and Answers
The Koroma administration has a responsibility to clear up the clouds of economic gloom and despair which have gathered over Sierra Leone's economy for decades. The administration has to propel the engines that could pull the nation out of her chronic gloom. This article looks at possibilities in the Sierra Leone housing market.
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