Housing starts fell dramatically, after posting several months of slight increases or stabalization. Meanwhile more Americans who bought homes during this brief increase are falling into trouble. About 3.4% or 1.9 million homeowners are 120 days or more late on their payments, up 1.5% from last year.
- The total number of homes for sale was 3.63 million in September, down 15% from last year.
- During the peak, residential housing made up 6.35 of Gross Domestic Product, today it is 2.5%.
- The average price of a US home doubled between 2000 and 2006; since then the avergage has dropped 30%.
- Overall 12.4% of American households with mortgages were 30 days or more overdue or in foreclosure.