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A Few Unhealthy Home Purchase Statistics

Oct 26, 2009 - 6:42 AM EDT

Thomas Smicklas submits:

John Burns Real Estate Consulting has released some unhealthy statistics regarding new home purchases from January through mid-October 2009. 59% of sales have been dependent upon government financing programs such as FHA, VA and USDA that allow purchases to be financed at 96.5%-100% loan LTV (loan to value). The highest use of FHA financing was in Northern California (68%), while southern Florida builders reported the highest percentage of cash purchases - a good thing (22%).

Two hundred and sixty-two home building industry executives from public and private companies responding to the survey also provided the following statistics, as of early October.

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Source: Seeking Alpha (Oct 26, 2009 - 6:42 AM EDT)