Posted: 10/26/2008 6:56:04 PM EDT
| I am looking for some decent statistics, hard data on who are the people who have been foreclosed on. Income level stuff like that. Anyone got anything? |
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I work in the real estate industry. AFAIK nobody compiles that particular kind of statistic.
Some companies can give you all kinds of information about specific foreclosure events. Others (e.g. Acxiom) can tell you more than you want to know about individuals. I have never heard of anyone merging consumer demographic data with foreclosure data. You could buy the data you need to get what you are looking for, but it wouldn't be cheap. 
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Mr. Mortgage goes into some good detail
http://www.youtube.com/watch?v=pmeBSWI9sF8 http://www.youtube.com/watch?v=fyzS68RYeE8 |
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Mr. Mortgage goes into some good detail http://www.youtube.com/watch?v=pmeBSWI9sF8 http://www.youtube.com/watch?v=fyzS68RYeE8 Christ that does not sound good. If the Alt-A hits us worse then the subprime did, and all indications show it will, we are going to be totally fucked. |
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I sell foreclosures. When they are transferred to us by the bank, I can see the name on the mortgage that was foreclosed.
I would say that in the 9 months that I have been doing this, around 80-90% have hispanic surnames. Couldn't tell you what the income level is though. |
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Quoted:
I sell foreclosures. When they are transferred to us by the bank, I can see the name on the mortgage that was foreclosed. I would say that in the 9 months that I have been doing this, around 80-90% have hispanic surnames. Couldn't tell you what the income level is though. That would probably be the subprime market you are working right now. The housing bubble hasn't popped yet, just the subprime market. The housing bubble is still growing a bit, from reading the links in the video and watching the video we have a LARGER market about to go kablooy. |
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Quoted:
Quoted:
I sell foreclosures. When they are transferred to us by the bank, I can see the name on the mortgage that was foreclosed. I would say that in the 9 months that I have been doing this, around 80-90% have hispanic surnames. Couldn't tell you what the income level is though. That would probably be the subprime market you are working right now. The housing bubble hasn't popped yet, just the subprime market. The housing bubble is still growing a bit, from reading the links in the video and watching the video we have a LARGER market about to go kablooy. I can't see the nature of the loan, but I am sure that most were subprime. |
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Quoted:
I sell foreclosures. When they are transferred to us by the bank, I can see the name on the mortgage that was foreclosed. I would say that in the 9 months that I have been doing this, around 80-90% have hispanic surnames. Couldn't tell you what the income level is though. I've observed the same while reading the foreclosure notices in my paper for entertainment purposes-I once saw a $1.2M note at 8.125% ARM get foreclosed. 
On the other hand, you've got to wonder about someone who can't make the nut of 43K at 5.75% fixed which I've also seen. |
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...The housing bubble is still growing a bit, from reading the links in the video and watching the video we have a LARGER market about to go kablooy. Home values nationwide are down 60% from their last peak, according to a blurb I heard on the radio this morning. |
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...The housing bubble is still growing a bit, from reading the links in the video and watching the video we have a LARGER market about to go kablooy. Home values nationwide are down 60% from their last peak, according to a blurb I heard on the radio this morning. Yes they are but the loans in this Alt-A section are still being paid. But there are a significant portion of them that are ARM loans and the change starts to happen next year and continues for two more. One of the arguments I have heard about why forclosures happen (i.e. in the video) is that people are more willing to walk away from a home loan when they are upside down on it. So with 60% down on the home values, almost everyone is upside down. When the ARMs start changing over to the balloon rate, we are going to see even more foreclosures then we saw under the subprime bubble. |