Don’t Buy a House in 2011 Before You Read These 20 Wacky Statistics

05-15-2011 • LewRockwell.com

#2 Zillow has also announced that the average price of a home in the U.S. is about 8 percent lower than it was a year ago and that it continues to fall about 1 percent a month. #3 U.S. home prices have now fallen a whopping 33% from where they were at during the peak of the housing bubble. #4 During the first quarter of 2011, home values declined at the fastest rate since late 2008. #5 According to Zillow, more than 55 percent of all single-family homes with a mortgage in Atlanta have negative equity and more than 68 percent of all single-family homes with a mortgage in Phoenix have negative equity. #6 U.S. home values have fallen an astounding 6.3 trillion dollars since the housing crisis first began. #7 In February, U.S. housing starts experienced their largest decline in 27 years. #8 New home sales in the United States are now down 80% from the peak in July 2005. #9 Historically, the percentage of residential mortgages in foreclosure in the United States has tended to hover between 1 and 1.5 percent. Today, it is up around 4.5 percent.