THE IMPACT OF SUBPRIME
October 28th, 2007The Joint Economic Committees Majority Staff (Democrats) has released their report on the potential impact of the subprime lending crisis. Here is their data and estimates on Hawaii:
- Number of subprime loans=26,603
- Average Home value=529,346
- Expected subprime foreclosures=3,638
- Loss of property value=$928 million
- Loss of Tax Revenue=$2 million
They don't break out Maui, but we can assume Maui will only see a tiny fraction of this impact.






