Repeated defaults on the refinanced in the first quarter of 2009, loans by the end of the year amounted to 51,5%. Number of overdue for a minimum of 30 days of payments rose to 57,9%. Number of households with overdue payments on a mortgage for more than 60 days rose to 2.39 million in the fourth quarter, ie by 13,1% compared with the previous three months and to 49.6% from a year earlier.

American borrowers are struggling to pay the mortgage, while falling home prices compel them to pay more than the cost of their property. About 24% of real estate, bought on a mortgage, “went under the water” in the fourth quarter (ie, mortgage debt exceeds the market value of housing). The average home price in February was $ 165,100 – 28% less than the peak for the market in July 2006. And in 2010, about 4.5 million objects and can be completely alienated.

On the number of alienation influenced by two factors: the level of unemployment and falling real estate prices. Projections suggest that over the next four years in the U.S. will be expropriated for the debts of 8.1 million homes (16% of the total number of acquired mortgage facilities). If the unemployment rate will reach 8%, the number of excluded homes will increase to 9 million if the unemployment rate exceeds 8%, it will be alienated by more than 10 million homes.

The unemployment rate in February of this year amounted to 9,7%. As for lower prices, there is no need to analyze statistics for the whole country (for example, in 2009 prices decreased by 3,87% according to the index Case-Shiller), and statistics by state, taking into account such factors as the issuance of there subprime-lending.

Indeed, there are areas where prices grew slightly (eg, Boston, Washington, Philadelphia). But still remain problematic Miami (-24.3%), Detroit (-22.5%), Chicago (-21.6%), Sacramento (-18.9%), Las Vegas (-29.7 %), San Francisco (-17.55%). Investors from Russia today is actively encouraging it to buy property in the points subprime, but we caution that before any purchase was necessary to conduct an independent analysis, and not blindly trust information about ended with the fall in prices in the U.S.. Today in this country the housing market is still far from the concept of “recovery”.

A quantitative measure of redemption of mortgages on U.S. real estate market drops second consecutive month. It shows the lowest annual growth over the past four years, even against the background of government support the property market.

Indicator repurchase mortgages, which includes refusal to pay the mortgage, auctions houses, as well as the purchase of homes by banks, amounted to 308,524 units in February, real estate, which is 2% less than in January, but 6% more than similar (February) the previous year. It is the smallest annual increase in this indicator, recorded in January 2006

In the United States for 17 consecutive months, there is the budget deficit. In February, according to the Treasury, the U.S. recorded a budget deficit of $ 220.91 billion analysts predicted it in advance, and the forecast was justified. In February last year the figure was $ 193.86 billion in February 2010 expenditure budget increased to $ 328.43 billion is the highest figure ever. Last year it totaled $ 281.17 billion

While the Administration attempts to Obama to save the mortgage market can not be called successful. According to the program Home Affordable Modification Program (HAMP), the end of 2012 was supposed to refinance mortgages for 3-4 million borrowers. But because of the complexity of the procedure within the HAMP at the end of February, it was restructured all 168,708 of overdue loans (from 1 million borrowers seeking assistance). On the balance of the nine national banks and three savings associations are now 34 million sites, totaling $ 6 trillion. That is approximately 64% of the total number of all mortgages in the U.S.

Year-to-date sales, at 78,233 are up 11 per cent compared to 2008. Average price, at $393,180, is up by three per cent. “Sales and average price in the GTA this winter will be well above levels reported throughout the fourth quarter of 2008 and the first quarter of 2009,” according to Jason Mercer, Toronto Real Estate Board’s Senior Manager of Market Analysis.

The average price for a Toronto home also moved up 2% compared to June 2008, the once again sellers maket conditions pushed up the prices on the Toronto homes. Don’t look for the house prices coming down any times soon, as the analysts predict, the Toronto house prices will continue to grow throughout the summer and possible the fall.