“Economic Pearl Harbor”

Warren Buffett's assessment of the current economic condition

1 MIN READ

1 in 7 Roughly the number of houses and apartments vacant in the United States, the highest percentage since the 1960s

$6.6 billion Estimated cost of the federal $8,000 tax credit for first-time home buyers

9 Builder confidence score on the March NAHB/Wells Fargo Housing Market Index, only one point higher than the historic low set in January

1982 It previously was the worst year on record for new-home sales until 2008 rolled around

$7,500 The median price of a home sold in December 2008 in Detroit, according to a statistic by listing service Realcomp in the Chicago Tribune

38% Percentage of finished lots that are in “desirable” locations, according to a Zelman & Associates home builder survey

48% Percentage of sub-prime adjustable-rate mortgages that were behind on payments or in foreclosure at the end of 2008

10,000 to 12,000 Estimated number of new-home sales California’s $10,000 home buyer tax credit package can fund

651,000 The number of jobs lost nationwide in February, marking the highest-rate rise this month in 25 years

142 Pages in Obama’s budget

About the Author

Christine Serlin

Christine Serlin is an editor for Affordable Housing Finance, Multifamily Executive, and Builder. She has covered the affordable housing industry since 2001. Before that, she worked at several daily newspapers, including the Contra Costa Times and the Pittsburgh Tribune-Review. Connect with Christine at cserlin@zondahome.com or follow her on Twitter @ChristineSerlin.

Christine Serlin

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