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Data and Statistics

Affordable housing shrinking for lowest-income families

The lowest-income families in the nation had an even more difficult time in 2008 finding affordable housing.

That's the conclusion of the National Low Income Housing Coalition's (NLIHC) analysis of 2008 American Community Survey data.

For every 100 extremely low-income households — those earning 30% or less of their area median income — there were 37 affordable rental units in 2008. That number is down from 39 the previous year.

New economic indicators released

Two interesting economic-related reports were released recently:

The Federal Reserve Bank of Boston releases housing related economic indicators monthly. The results, shown in the table below, are from the October release.

Vermont's home prices have dropped less than New England's and the nation's, and the drop in the number of permits has been about equal to the decrease nationally.

Record high foreclosures, nationwide; Vermont fares better

Numbers released yesterday by the Mortgage Bankers Association (MBA) show foreclosures and mortgage loan delinquencies were at a record high in the third quarter of 2009.

Nationally, approximately 14 percent of all home loans were either delinquent or in some stage of foreclosure.

Vermont's numbers aren't nearly as bad (See map).

Read the Washington Post's story about the report.

BusinessWeek: St. Albans "most affordable" Vermont suburb

businessweek logoBusinessWeek has named St. Albans Vermont's "most affordable" suburb.

"Housing prices across the nation are being flattened by the worst economic crisis in decades," Prashat Gopal writes, "but it's still not necessarily easy to find affordable suburbs.

NAR study: Record number of first-time homebuyers last year

A recent study by the National Association of REALTORS (NAR) shows first-time homebuyers reached their highest market share on record during the past year.

The number of first-time buyers rose to 47 percent of all home sales, up from 41 percent in the previous year's study.

“These buyers are critical to housing and a general economic recovery, because the market always heals from the bottom up," according to Paul Bishop, NAR Vice-President of Research.

Home values in VHFA portfolio up 24 percent

An independent review of VHFA’s single-family home loan portfolio shows property values increased by 24 percent compared to values at time of purchase.

The median increase in individual home values in VHFA’s portfolio was 14 percent.

“During this recession we’ve heard a lot about homes dropping in value, but properties in VHFA’s portfolio are doing well. This is evidence of the fiscal strength of the Agency,” said Executive Director Sarah Carpenter.

Burlington: Few foreclosures, high rents

We noticed that Vermont's largest city ended up on two lists at CNN.com recently.

Burlington ranks #4 on CNN's list of cities with the lowest number of foreclosures: 1 in 8,006 housing units.

Elsewhere on the site, the Queen City's listed as having the 23rd highest rental rates anywhere in the country.

You can see all the numbers under the "Costs" tab at CNN's Web site.

Delinquencies, foreclosures, mortgages outstanding in Vermont

According to the quarterly National Delinquency Survey conducted by the Mortgage Bankers Association, Vermont is faring better than most states in terms of delinquencies and foreclosures.

Only six states have a lower rate of serious delinquency and only 15 have a lower rate of loans in foreclosure, as of June 30, 2009.

This survey is estimated to cover approximately 85 percent of all first-lien mortgages outstanding.

In comparison to all 50 states, only North Dakota has fewer mortgage loans outstanding. No state has fewer VA and FHA loans.

Free seminar: The Census and ACS

fred and chipThe Center for Research on Vermont is presenting a free seminar for data professionals this month: Research-in-Progress Seminar #222: "Counting Vermont in the 21st  Century: The 2010 Census and Changes to Data on Our State and Communities."

Vermont mortgage laws profiled in WSJ

Today's Wall Street Journal article "Vermont Mortgage Laws Shut The Door on Bust — and Boom" examines Vermont's low rate of foreclosure and attributes it, in part, to banking regulations and land use practices.

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