Phillips County herald., 1922-06-08
OWE LESS ON HOMES
Ratio Of Debt to Value Decreases
in Thirty Years
eursau Of csnsus Gives Out Some
Interesting Figures on Mortgage
Debt on Owned Homes and
Farms ie United statsa

Washlnoton. on.-Accorsling to Z pre-
lmlnary report that has Just been Is
sued By The Department Of Commerce.
through the bureau of the census. the
total, -estitBatsd mortgage debt on
ovl6d hoanes and fuxsls ID continental
United States In 1910 vss IN .O01. .000.s
600 and the total estimatSd value Of
thess mortEaeed homes and farms was
81, ,70o. 100000. the mortgage debt
thus representins SAT per cent Of the
total value. 1t shodld be noted that
the ter1n "owned homes II used by
the bureau to designate those homes
which arc occupied by their owners.
and similarly. 'owned fnrms' is ap-
piled to farms opernted by their own
ers, 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 census In
which this information was obtained.
was reported as sc.l33.OO.0O0 and the
total value OF these mortgnged homes
and farms was reported as $5,8S7. .000.-
600. the mortgage debt thus represent
ing 37.5 per cent Of the total value.
The mortgage debt on owned homes
and farms Increased 4i5s per cent be-
tween 1900 and 1920. and the value Of
these mbrtgngsd homes and farms In
creased 457.0 per cent. As result.
the ratio Of debt to value has de-
creased, being 34.7 per cent In 1920 as
against 37.5 per cent In 1890.
The total number of homes not on
farms In the United States In 1870 was
17.GoO.O00. Of which 100000 or 400
per cent were mortgaged. Informn-
tlon regarding the ynivc Of the home
aud the amount Of mortgage debt wus
secured from 1,S93.000 OF. .00.3 per cent
Of these mortgnged homes. The total
mortgage debt on the mortgngrd
homes not on farms In lss2Olis estimnt.
ed ns $4,000. .000. 900. md tho total vniuc
Of such homes ns si4.03o.DO0. 900. the
ratio OF dc6t to vnluc being $40 per
cent.
The total mortgage debt on owned
homes not on farms IN the United
States In 1890 was reported M g..
OF. 100000. and the total value Of these
inortguged homes was reported ns s..
CfS2. 900. 900. the mortgage debt thus
representing 3D.s per cent Of the total
vnlue. The mortgrEc debt on owned
homes Increased &1Ji pcr cent and
the value of such hnmes 4s5.8 pcr cont.
between 1890 and 1D20. This hns N.
suited In slight increase In the rntio
0f debt 10 vnluc--fr0tn 3D.S per cent
In 1870 10 %28 pcr cent In 1920.
The total estimated mortgage debt
on owned fnrms In tho United Stntes
In 1920. including the estimnted mort.
sngc debt on pnrtiy owned fnrms. was
5000 900. no. and the total cstimnted
vnluc of these mortsngcd farms WINS
&f7.Co9 o9-O0OO0e. the rntio NJ debt 10
vnIuc being 2S.s per cent. Ni
The total estimated mortgage dcbt
on owned FIRMS In 1870 WINS reported
ns si0sO.D0.OoO. nnd tho total vniuc
of these farms wns reported ns S3,O55.
100000. the rntlo Of debt to vnlue he.
Ing 300 per cent. The mortrngc debt
on owned farms increased 30O5 nor
cent. and the vnlue Of such farms 4;n 4
per cent, bctwcen 1880 and ip2o. tho
rntIo ~ debt 10 vnlue Decreasing from
! 800 In $500 TO ss.i In 1920.