Assets past due 30 – 89 days – Secured by 1-4 family residential properties
2005 $24.4B
2006 $32.2B
2007 $51.5B
2008 $78.8B @$250k/home = 315,200 homes
Assets past due 90 days or more – Secured by 1-4 family residential properties
2005 $10.3B
2006 $10.0B
2007 $14.3B
2008 $46.1B @$250k/home = 184,400 homes
Keep in mind, these are for FDIC insured institutions. Other mortgage companies and Credit Unions may not be included. The estimated number of homes is mine.
Notice how relatively flat are the 90+ numbers until 2008. What gives?
EDIT:
Some more numbers:
Loan Charge-Offs and Recoveries – Secured by 1-4 family residential properties
2005 $2.0B
2006 $3.1B
2007 $8.4B
2008 $27.0B
Think they may have realized they have a problem in 2008?
