1. Number of loans already lost to foreclosure: 1.5 million
2. Projected foreclosures on all types of loans during the next 5 years: 13 million
3. Portion of all homeowners late on their mortgage: 1 in 10
4. Portion of homes where owners owe more than property value (“underwater”): 1 in 5
5. Drop in residential lending from 2008 compared to 2007: over a trillion
6. Between 2006 and 2008, % decline in existing home sales: 24%
7. Between 2006 and 2008, % decline in new home sales: 54%
8. Between 2006 and 2008, % decline in new construction: 58%
9. In 2009, number of neighboring homes that will lose property
value because of nearby foreclosures: 69+ million
10. Average price decline per home (2009): $7,200
11. Total property value lost because of nearby foreclosures (2009): $502 billion
12. Percentage of 2006 subprime loans that went to people who could have qualified for prime loans with better terms: 61%
13. Typical rate difference between a 30-year, fixed mortgage and the initial rate of aggressively marketed ARM loans: half to 8/10%
14. Cumulative default rate for recent subprime borrowers with a similar risk profile to borrowers with lower-rate loans: more than 3x higher
15. During first four years of a loan, the typical extra cost paid by subprime borrowers who get a loan from a mortgage broker, compared to other borrowers with similar characteristics: $5,222