PrimeConcern


Given all the worries about credit in this country, and subprime mortgages, I was curious as to what the entire amount of home mortgage debt is. There are about 110 million households in the country, with 70% of them owned residences. Let’s say there are 75 million owned homes. Not all have mortgages, but if 70 million do, and the average mortgage amount on such homes is $200,000, that comes out to a scary $14 TRILLION of mortgage debt in the USA. If just 2% default, the amount of bad home loans is $280 billion. It could obviously be much higher.

Does anyone know what total mortgage debt is per household and in total? This is a real problem that could damage the economy.

6 Responses to “How much mortgage debt is there in the USA?”

1. Y on September 28th, 2010 5:12 am

   Y

2. 5 on October 1st, 2010 3:47 am

   5

3. k on October 3rd, 2010 11:48 pm

   k

4. P on October 6th, 2010 5:43 pm

   P

5. 2 on October 8th, 2010 9:19 pm

   2

6. 1 on October 9th, 2010 8:35 pm

   1

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