Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1922-04-27
Mortgage Debt
Homes and Farms
Was in 1920 stt.oot, 100000. 34.7 Per
cent Of Their Total Valu.-in 1890
tho Mortgage Debt Was 37.5 Per-
cent of Total Value

Washington, n. c., April ss.-Ac-
cording to a preliminary report that
has Just been issued by the Depart
mont Of Commerce, through the Bu-
rcau of the Census. the total esti-
mated mortgage debt on owned homes
and farms in continental United
States, in 1920 was sl1 ,00l, 000.0 and
the total estimated value Of these
mortcagcd homes and farms was
s31,70S.o00, 900, the mortgage debt thus
representing Sf.7 percent Of the total
value. 1t should he noted that the
term "owned homes" is used by the
Bureau to designate those homes
which are occupied ny their owners.
and similarly, owned farms" is ap-
piled to farms operated by their
owners, rented homes and tenant
farms not being included in these
totals.
The total mortgage debt on owned
homes and farms in the United
States in 1890. the only previous CEN
sus in which this information was
obtained was reported as S2.133. 900
600 and the total value OF these mort
gagged homes and farms was reported
as 1851 100000. the mortgage debt
thus representing 37.j percent OF the
total value. The mortgage debt on
owned homes and farms increased
4l5.S percent between 1890 and 1920.
and the value of these mortgaged
homes and farms increased f57.6 per
cent. As 4 result. the ratio of debt Ia
cent in 1920 as against :7.5 percent
in 1890.
The total number of homes not on
farms in the United States in 1890
was 1880 900 of which 7,195,O0O or
400 percent We're owned by the oc-
cupants; and of these owned homes
2,S55,e00 or 39.7 percent were mort
Saced. Information regarding the
value of the home ami the amount of
mortgage debt was secured from
II 1913, 900 or 6G.S percent of these mort
Gagged homes. The total mortgage
debt on the mortgagcd homes not on
farms in 1920 is estimated as $4,000
100000 and the total value of such
homes as $1,000, OO0,0 900, tho ratio of
debt to value being 42.6 percent.
The total mortgage debt on owned
homes not on farms j.. the United
States in 1890 was reported as sf,O47.-
100000 and the total value OF these
mortGaged homes was reported rs
$3.50, 900, the mortgage debt thus
representing 1913 percent of the total
value. The mortgage debt on owned
homes increased 47S1 percent, and
the value Of such homes 1856 percent.
between 1890 and 1929. This has re-
suited in slight increase in the ratio
Of debt to valuc-from 1913 percent in
1890 TO 42.6 percent in 1920.
The total estimated mortgage deb,
on owned farms in the United States
in 1920, including the estimated mort
gage debt on partly owned farms. was
So,00l, 100000 and the total estima ted
value of these mortgaged farms was
ST. 500, 100000, the ratio of debt TO
value being 28.4 percent
The total estimated mortgage debt
on owned farms in 1890 was reported
rs s1,oS6,0n and the total value Of
these farms was reported as s3.O55.
COO, 900, the ratio of debt to value he
ing S3.s percent. The mortgage debt
on owned farms increased 36O.5 pcr
cent, and the value Of such farms
1854 percent, between 1890 AMI 1920
the ratio Of debt to value decreasing
from 35.s in 1890 to cS.4 in 1920.