How much mortgage debt is there in the USA?

Deal Score0

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.

1 Comment
  1. Reply
    Pete W
    April 30, 2011 at 1:09 am

    You bring up an important question. The best data I can find on the ‘net are figures for 2003 (USA Today) – nothing newer available according to them. If that number is correct then the total mortgage debt in the US, 2003, $ 6.3 trillion. Some adjustments must be made for the past four years- higher, I’m sure.

    Lots of bucks out there!!

    Leave a reply

    Register New Account
    Reset Password