Thursday, March 1, 2012

Corrected: GSE CY 2010: Data for 374 Metro Areas, Including 6 In Oregon.

Correction:
I inadvertently included "Not in Metro Location"  in the Metro rankings found in Table 6. Eliminating those areas from Metro rankings changes the total metro ranks to 374, and increased relative rankings for all metro areas by one. 

I have made changes in Table 6 of the Picture of GSE Assisted Households, CY 2010 and also changes in the text of the post below. Portland now ranks as 19th and Seattle 8th in the number of GSE loans by metro area. 
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I have added three new metropolitan area focused tables to the link in the right pane, A Picture of GSE Assisted Households, CY 2010. These tables are:
  • Table 5: GSE CY 2010 Alpha Metro Loan $$ and Counts.
  • Table 6: GSE CY 2010 Ranked Metro Loan $$ and Counts.
  • Table 7: GSE CY 2010 Oregon Metro Loan $$ and Counts.
Some observations: 
  1. The Portland metro area ranked 19th in the number of GSE loans, at 58,645 loans / $12.6 billion. [In 2010, the Portland metro population ranked 23rd in the country].
  2. The Portland metro area ranked HIGHER than Detroit's 52,355 in GSE loan purchases, even though the Detroit metro area had a 2010 population that was nearly double (93% larger) the size of the Portland metro area. [Detroit metro pop 4,296,250 vs 2,226,009 for Portland ].
  3. Seattle, ranked 15th in 2010 metro population, also ranked higher at 8th in the number of GSE area loans by metro area [ 96,868 loans/ $25.4 billion].
  4. The designator "Not a Metropolitan Location" totaled 539,497 loans and $84.9 billion. These are loans that would NOT appear in HMDA data as they are outside metro areas. [Not shown in these tables, I count 12,665 Oregon loans that are coded as "Not a Metro location"; these loans totaled $2.198 billion].
  5. Within Oregon, Bend and Medford (hard hit by foreclosures) still had a combined 7,758 GSE loans/ $1.5 billion. 

Notes: 
I would NOT print the entire tables 5 and 6 unless necessary, they are 14 -15 pages each.

Originally created and posted on the Oregon Housing Blog.

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