- $500B in loan related write-downs at banks and rising.
- $2 Trillion in economic credit impairments in lending.
- 446,726 homes currently in foreclosure (1 for every 196 households).
- 1.4 Million or more homes expected to enter foreclose in 2008.
- Foreclosures increasing at over 34% per quarter.
- U.S. GDP projection for 2008 lowered to 1.9% due to mortgage problems – down a full percentage point.
- Likelihood of 6.4% unemployment with an additional 3 million jobs lost.
- Property value drops nationwide estimated at 7% for 2008 – a loss of $1.2 Trillion to homeowners.
- U.S. Home Prices fall 4.5% nationwide in Q3 of 2007 – the largest decrease ever.
- 191 Mortgage Lenders out of business.
- Cities expected lose a minimum $400B of economic activity due to the housing crisis.
Was loosening the traditional lending standards really worth it?
S&P: 3Q Home Prices Fall by 4.5 Percent
S&P Says 3rd-Quarter Housing Prices Dropped by Sharpest Rate in Index's 21-Year History
Report: Foreclosures Will Sap U.S. Cities
Since late 2006 - 191 major U.S. lending operations have "imploded" (11/27/2007 figure)
Have We Seen Worse of Mortgage Crisis?
New Wave of Mortgage Failures Could Create a Nightmare Economic Scenario
Housing to slow growth in 2008
A report warns of 20 percent hit on Triangle economy; U.S. growth may slow 25 percent