Wednesday, November 25, 2009

More on Housing

At the risk of beating the hell out of an obviously very dead horse, here is more shocking housing data. How can state governments in California, Nevada, Arizona and Florida continue to spend when their property tax base is eroding? From the WSJ:
Alabama
323,363
23,950
13,437
7.4%
4.2%
$64,211,995,221
$41,066,979,451
$23,144,883,447
64.0%
Alaska
84,726
8,651
4,906
10.2%
5.8%
$22,581,000,177
$15,119,410,632
$7,461,552,041
67.0%
Arizona
1,368,572
655,540
61,621
47.9%
4.5%
$287,685,256,518
$260,930,735,982
$26,753,945,273
91.0%
Arkansas
230,402
26,097
14,741
11.3%
6.4%
$35,985,840,989
$26,435,828,174
$9,549,913,620
73.0%
California
6,934,505
2,407,889
270,439
34.7%
3.9%
$2,898,370,652,854
$2,087,963,760,624
$810,404,039,649
72.0%
Colorado
1,126,882
214,436
87,727
19.0%
7.8%
$307,419,525,068
$219,938,041,045
$87,480,986,096
72.0%
Connecticut
804,690
85,744
31,059
10.7%
3.9%
$292,497,354,132
$167,305,920,422
$125,191,119,356
57.0%
Delaware
173,996
24,365
8,849
14.0%
5.1%
$45,609,760,183
$31,011,707,815
$14,597,984,192
68.0%
Florida
4,561,689
2,038,063
180,178
44.7%
3.9%
$906,227,140,097
$792,754,976,135
$113,470,209,693
87.0%
Georgia
1,573,628
376,954
130,616
24.0%
8.3%
$326,266,456,872
$253,577,714,203
$72,688,049,523
78.0%
Hawaii
229,572
18,926
7,379
8.2%
3.2%
$125,578,947,095
$65,221,334,743
$60,357,525,066
52.0%
Idaho
236,557
46,567
10,790
19.7%
4.6%
$50,976,166,875
$34,967,241,144
$16,008,823,529
69.0%
Illinois
2,226,172
409,804
113,240
18.4%
5.1%
$548,438,947,464
$383,819,662,281
$164,618,344,143
70.0%
Indiana
557,538
49,836
22,945
8.9%
4.1%
$87,223,021,164
$58,295,733,144
$28,927,058,985
67.0%
Iowa
305,535
28,534
14,301
9.3%
4.7%
$45,999,224,974
$30,413,522,273
$15,585,578,037
66.0%
Kansas
286,387
29,824
15,518
10.4%
5.4%
$52,478,187,723
$36,553,496,132
$15,924,565,399
70.0%
Kentucky
262,287
24,089
13,931
9.2%
5.3%
$44,792,497,951
$29,917,071,331
$14,875,320,146
67.0%
Louisiana
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Maine
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Maryland
1,360,048
292,820
66,605
21.5%
4.9%
$441,335,180,706
$301,264,670,486
$140,069,926,475
68.0%
Massachusetts
1,480,209
231,223
54,514
15.6%
3.7%
$538,627,379,903
$325,415,567,370
$213,211,231,057
60.0%
Michigan
1,374,458
513,278
83,861
37.3%
6.1%
$203,774,863,141
$170,907,256,555
$32,867,033,302
84.0%
Minnesota
517,203
80,227
25,166
15.5%
4.9%
$119,740,860,669
$75,469,941,221
$44,270,703,003
63.0%
Mississippi
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Missouri
769,582
105,837
41,015
13.8%
5.3%
$140,248,938,263
$97,999,126,231
$42,249,480,238
70.0%
Montana
103,283
6,622
2,776
6.4%
2.7%
$27,778,331,905
$15,190,034,758
$12,588,252,467
55.0%
Nebraska
217,399
20,341
11,773
9.4%
5.4%
$35,038,127,595
$25,177,350,824
$9,860,681,423
72.0%
Nevada
604,665
393,112
22,093
65.0%
3.7%
$116,768,920,280
$132,633,221,347
$-15,864,577,219
114.0%
New Hampshire
204,322
37,793
11,866
18.5%
5.8%
$50,374,032,297
$34,471,800,243
$15,902,155,455
68.0%
New Jersey
1,886,961
290,838
81,113
15.4%
4.3%
$684,535,731,652
$421,242,864,729
$263,292,114,448
62.0%
New Mexico
226,922
25,089
9,902
11.1%
4.4%
$54,138,738,940
$35,183,750,063
$18,954,893,121
65.0%
New York
1,798,647
111,219
41,212
6.2%
2.3%
$809,676,704,146
$395,674,927,067
$414,001,096,554
49.0%
North Carolina
1,456,128
130,587
82,154
9.0%
5.6%
$311,067,344,410
$215,185,300,367
$95,881,445,711
69.0%
North Dakota
40,694
3,502
1,330
8.6%
3.3%
$6,745,079,056
$4,124,256,883
$2,620,805,349
61.0%
Ohio
2,203,538
442,000
147,183
20.1%
6.7%
$325,815,930,626
$243,197,977,298
$82,617,002,776
75.0%
Oklahoma
394,881
24,247
13,391
6.1%
3.4%
$58,172,916,206
$40,728,126,667
$17,444,615,134
70.0%
Oregon
698,525
97,186
37,410
13.9%
5.4%
$188,192,330,495
$125,369,338,550
$62,822,700,362
67.0%
Pennsylvania
1,765,129
131,878
56,297
7.5%
3.2%
$397,202,585,977
$244,025,236,176
$153,176,623,917
61.0%
Rhode Island
224,650
36,439
6,987
16.2%
3.1%
$64,030,416,719
$34,641,060,959
$29,389,266,786
54.0%
South Carolina
569,567
68,238
30,330
12.0%
5.3%
$129,999,110,063
$88,742,738,130
$41,256,145,022
68.0%
South Dakota
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Tennessee
932,765
123,383
65,176
13.2%
7.0%
$162,953,218,024
$114,254,441,585
$48,698,384,523
70.0%
Texas
3,168,016
348,208
189,218
11.0%
6.0%
$580,942,759,135
$400,507,399,525
$180,433,964,328
69.0%
Utah
470,227
86,024
28,084
18.3%
6.0%
$119,287,507,807
$84,706,413,257
$34,580,896,926
71.0%
Vermont
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Virginia
1,235,727
294,008
69,690
23.8%
5.6%
$417,169,394,840
$297,419,114,453
$119,749,762,835
71.0%
Washington
1,402,209
199,905
74,164
14.3%
5.3%
$451,089,987,058
$295,477,095,247
$155,612,289,578
66.0%
Washington DC
100,050
15,899
4,557
15.9%
4.6%
$48,442,762,101
$28,790,943,142
$19,651,778,498
59.0%
West Virginia
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Wisconsin
568,529
80,497
29,752
14.2%
5.2%
$111,007,096,015
$74,102,079,961
$36,904,784,980
67.0%
Wyoming
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
N/A
Nation
47,354,699
10,698,024
2,301,649
22.6%
4.9%
$12,795,512,047,914
$8,897,671,312,552
$3,897,820,918,898
70.0%
* The data only include properties with a mortgage. Non-mortgaged properties are by definition not included.
** Defined as properties within 5% of being in a negative equity position.

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