Business News: The Evaporating American Homeownership Dream Verses Higher Education

AddThis Social Bookmark Button

debt

Picture a home of your own, a white-picket fence, front porch, yard or view. Sound like a fairy tale? Homeownership appears increasingly elusive to a large population subset, but a whopping 72% or $8.74 trillion of U.S. debt is mortgage-related, according to MarketWatch.

That sounds like a lot — and it is currently experiencing an uptick — but it represents a marked drop (of $1.3 trillion) from the highs leading up to the Great Recession. Since then, millennials have struggled to enter the buyer's market due to high levels of student loan debt, idle salaries and strict lending standards. Simultaneously, low home equity levels and boomerang kids have forced many baby boomers to defer downsizing their homes, according to Barclays.

The team at Credio wanted to see where Americans carry the most mortgage debt. To do this, they analyzed data from the Federal Reserve Bank of New York to calculate the mortgage debt per capita (amount attributable to all citizens) in all 50 states. They then ranked the list from lowest to highest.

This list features the 10 states with the largest mortgage burdens, along with the delinquency rate in the state (measured as the percent of mortgage debt that is at least 90 days delinquent).

#10. New Jersey

Mortgage Debt per Capita: $39,100
Mortgage Debt Delinquency Rate: 5.43%

#9. Alaska

Mortgage Debt per Capita: $40,470
Mortgage Debt Delinquency Rate: 0.85%

#8. Connecticut

Mortgage Debt per Capita: $40,990
Mortgage Debt Delinquency Rate: 3.27%

#7. Massachusetts

Mortgage Debt per Capita: $43,460
Mortgage Debt Delinquency Rate: 2.36%

#6. Washington

Mortgage Debt per Capita: $43,980
Mortgage Debt Delinquency Rate: 1.61%

#5. Colorado

Mortgage Debt per Capita: $46,050
Mortgage Debt Delinquency Rate: 0.79%

#4. Virginia

Mortgage Debt per Capita: $46,180
Mortgage Debt Delinquency Rate: 1.27%

#3. Maryland

Mortgage Debt per Capita: $49,320
Mortgage Debt Delinquency Rate: 2.89%

#2. California

Mortgage Debt per Capita: $51,190
Mortgage Debt Delinquency Rate: 1.21%

#1. Hawaii

Mortgage Debt per Capita: $51,770
Mortgage Debt Delinquency Rate: 2.78%

Compare Financial Products on Credio

Haute Tease

  • Op/Ed: The Real Loser in the Midterms: Individuality

    AddThis Social Bookmark Button

    After the election, sappy statements on social media exhort us to bow down in praise that the first minority this or the first woman that was elected and how this means we have catapulted our nation out of the Neanderthal era.

     
  • Holiday Home Cooking: Diestel Turkey Review - When Only the Best Will Do

    AddThis Social Bookmark Button

    As the holiday season quickly approaches, preparations for family gatherings including choosing the menu, that could include a variation of poultry, meats, seafood and pasta now include planning for leftovers which has become as popular as the main meal itself.

     
  • Celebrity Interview: Director Andrew Bujalski and Star Regina Hall Talk on Support The Girls

    AddThis Social Bookmark Button

    Support the Girls Director Andrew Bujalski, and star Regina Hall, sat down with the folks at Magnolia Pictures for an in-depth interview on the making of the film, sexual harassment in the modern age and Sports Bars.

     
  • Celebrity Interview & Review: G-Force,From Walt Disney Pictures and Jerry Bruckheimer Films, Animation At Its Finest

    AddThis Social Bookmark Button

    “G-Force”, a soon-to-be released 3-D animated spy thriller, from Walt Disney Pictures and Jerry Bruckheimer Films was recently previewed for the World Media at AMC Empire Theaters in New York City.

     
  • Beltway Insider: Trumps Small Victory; Attacks Media; NYT Prints Trump Liars Guide; SCOTUS Calendar; G20; Grenfall Tower Sparks Backlash

    AddThis Social Bookmark Button

    President Donald Trump, who appears in the throes of a bi-polar episode, began the week claiming victory as parts of his Travel Ban was reinstated and ended with a Twitter rant as he attempted to discredit mainstream media organizations.

     
  • Celebrity Interview: Lorenzo di Bonaventura: A Hit Producing Machine

    AddThis Social Bookmark Button

    SALT, the espionage thriller from Sony Entertainment and Columbia Pictures, starring Angelina Jolie, Liev Schreiber and Chiwetel Ejiofor is savoring a summer of sweet success as it retains its box office flavor.

     
  • Beltway Insider: Sequester Gridlock; Obama Signs VAWA; February Job Numbers; Brennan Confirmed; Chavez Dies

    AddThis Social Bookmark Button

    President Barack Obama, still reeling from the enactment of the Sequester, received better than expected news from the Bureau of Labor Statistics as the February Job Numbers took center stage in his economic recovery initiatives.

     
  • Beltway Insider: Clinton Projected to Secure Tuesday; Apocalyptic Flooding; Jobs; AIDS at 35; Mohammad Ali

    AddThis Social Bookmark Button

    Presumptive Democratic Presidential Nominee Hillary Rodham Clinton, a title she should secure over this next week, and her hard-charging democratic challenger Vermont Senator Bernie Sanders are in a fight to the finish line.

     
  • Suicide Squad Review - The Most Diverse Superhero Cast Yet

    AddThis Social Bookmark Button

    The much anticipated "Suicide Squad," a villainous take on the classic superhero movie, opens in theaters on August 5th. Despite some early negative reviews, the third film in the DC Extended Universe franchise is still poised to open at around $140 million and has already broken Fandango's pre-sale ticket record for August.  

  • OSCAR Contenders: “A War” An Important Call to Change the Rules of Engagement

    AddThis Social Bookmark Button

    A War is one of the best movies of the year, politically correct, realistic, and approachable. The timing of this war-drama couldn't be any better as an insightful study of the Afghan conflict, its ethics, politics, and in the aftermath with the soldiers and their families in the West. 

     
  • The Orphan Keeper Review – Astounding, Inspirational, Remarkable

    AddThis Social Bookmark Button

    The Orphan Keeper, from Shadow Mountain Publishing, tells an epic story of a boy kidnapped from India, sold to an orphanage and adopted to the United States over 8,000 miles away and the miracle that would follow.

     
  • Gleason Review - Raw, Emotional, Vulnerable

    AddThis Social Bookmark Button

    Gleason, from Amazon Studios and Open Road Films, comes the story of Steve Gleason, the former New Orleans Saint Special Teams player and ALS survivor, and chronicles the advent and decline of the pro baller who once brought a city back from the brink.

     
  • Beltway Insider: Trump’s First 100 Days; France Elections; Marine Le Pen, Tennessee Teacher; LA Riots at 25

    AddThis Social Bookmark Button

    President Donald Trump marked his first 100 days in office this week, a milestone that is met with ranks and ratings as the former business leader continues to struggle with Hillary backlash and persistent and alleged election fraud.

     
  • Diann Valentine, Celebrity Wedding and Interior Designer, Offers Tips On Spicing Up Your Home for Spring

    AddThis Social Bookmark Button

    Diann Valentine, a vibrant and dynamic keynote speaker, television personality, internationally acclaimed wedding, event and interior designer is continuing to impress with a portfolio that commands attention she is bringing her eponymous brand to special occasion styling everywhere.

     
  • Sadie Kitchen & Lounge Review - A Hollywood Scene Standout

    AddThis Social Bookmark Button

    Sultry. Sexy. Sophisticated. These are the words that come to mind when describing one of L.A.’s newest and most notable eateries: Sadie. Tucked comfortably in the heart of Hollywood, Sadie is poised to give the region’s entrenched eateries a run for their money with elevated, market-fresh New American cuisine conceived by Mark Gold, Sadie’s esteemed Consulting Chef, hailing from Eva Restaurant.