It's been a while since I did a Porker's Index and they're always fun.
Since I've got foreclosures on my mind lately let's start with...
... not quite what I had in mind.
The Shadow Market
"Shadow market" in terms of home sales refers to incomplete short sales, pending foreclosures, and homeowners who are at least 3 months behind on their mortgage payments.
Unemployment in Chicago
August 2010: 11.4%
August 2012: 10.3%
Mortgages over 90 days past due in Chicago
August 2010: 10.4%
August 2012: 10.2%
Amazing how little has changed over the past two...
Months' Inventory of Distressed Property, Chicago Metro Region
August 2010: 30.2
August 2012: 19.4
Moving right along, one of the main problems with distressed properties (short sales, foreclosures, and delinquent mortgages) is people spending too much on their mortgage payments.
Mortgage Overspending (more…)
Harper's Index has always been one of my favorite sources for trivia. I've nicked their format once before and it was a blast. Since Friday is the day when I count things for you it's time I return to that format for a smattering of curious figures.
Number of true search results in Amazon's library for:
- "How to be a good landlord": 91
- "How to be a good homeowner": 100
- "How to be a good tenant": 0
- "How to be a good manager": 2,535
Source: Amazon.com as of June 10, 2012
Number of Google search results for:
- "I hate my tenants": 47,500
- "I love my tenants": 118,000
- "I hate my landlord": 985,000
- "I love my landlord": 3,480,000
- "I hate my job": 6,130,000
- "I love my job": 29,600,000
Source: Google.com as of June 10, 2012
Number of new Chicago Craigslist postings in an hour for:
- Apartments for rent: 950
- Jobs - all categories: 26 (note: Craigslist charges to post job ads in Chicago)
- Computers for sale: 15
- Missed connections: 6
Source: chicago.craigslist.org between 6:25pm and 7:25pm on June 10, 2012
Average student loan debt for 2010 grads:
- Illinois state average for 4-year college graduates in 2010: $23,885
- School of the Art Institute of Chicago: $39,306
- University of Chicago $22,359
- NEIU: $10,976
Other things you could buy for $23,885:
- 3/4 of a year's rent in a luxury 2 bedroom Chicago West side Loft condo (Source: ConnectMLS)
- A 2012 Ford Mustang. (Source: )
- 28.8 Top end Ipads with Cell service. (Source: apple.com)
- 31.4% of one year of an average Chicago public school teacher's salary (Source: )
- 55.4% of one year of an average rookie Chicago cop's salary (Source: )
- 871 shares of Facebook stock today.
- 42 shares of Google stock today.
- 19% of a single share of Berkshire Hathaway stock today.
Stock sources: Google Finance
Average list price per square foot per month for:
- Lakeview 2 bedroom rental (assuming 700 sq ft per 2 bed): $3.27
- Lakeview 2 bedroom condo purchase distributed over 30 years: $1.30
- Lakeview storefront rental up to 700 sq ft: $1.83
US National Interest rate averages as of mid-June 2012:
- 36 month new car loan 3.44%
- Standard 30 yr Fixed Mortgage: 4.21%
- Stafford student loan: 6.8%
- PLUS student loan: 8.5%
- Average Business credit card w/o "rewards" APR: 13.13%
- Average "Student" credit card APR: 13.16%
- Target Credit Card: 25.24%
- Chicago payday loan, repaid in 2 weeks: 405%
Sources: (Bankrate.com, , , )
Base Rent rates for interesting commercial spaces:
- 7500 sq ft of storefront space on Division in Wicker Park: $23750/mo
- 8000 sq ft next to Circuit Nightclub on North Halsted: $13000/mo
- 2400 sq ft former 7-11 with parking lot in Lincoln Square: $4800/mo
- 6250 sq ft dog care facility w. equipment on Western in Roscoe Village: $3500/mo
- 5000 sq ft church in Austin for Sunday afternoons and one weeknight: $1500/mo