Of the approximately 80 million houses in the United States, 27 million are paid off, while the
remaining 53 million have mortgages. Of those households with mortgages, 5 million (or 9 percent)
were behind in their payments and roughly 3 percent were in foreclosure as of mid-2008.
From the Milkin Institute:
Rise and Fall of US Mortgage and Credit Markets Excerpt
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