Mortgages on Homes: A Report on the Results of the Inquiry as to the Mortgage Debt on Homes Other Than Farm Homes at the Fourteenth Census, 1920

Mortgages on Homes: A Report on the Results of the Inquiry as to the Mortgage Debt on Homes Other Than Farm Homes at the Fourteenth Census, 1920

Mortgages on Homes: A Report on the Results of the Inquiry as to the Mortgage Debt on Homes Other Than Farm Homes at the Fourteenth Census, 1920

Mortgages on Homes: A Report on the Results of the Inquiry as to the Mortgage Debt on Homes Other Than Farm Homes at the Fourteenth Census, 1920

Excerpt

The basic data for this report relative to mortgaged homes other than farm homes include three items, namely, the value of the mortgaged homes, the amount of the mortgage debt, and the rate of interest. The tables herewith presented show for geographic divisions and states and for cities having 25,000 inhabitants or more, the number and per cent distribution of homes not on farms, classified by tenure; the number for which complete returns were not received; the total and average value of mortgaged homes occupied by their owners (hereafter referred to as "owned mortgaged homes"); the total and average mortgage indebtedness thereon; the ratio of debt to value; the total and average annual interest charge; the average annual rate of interest paid on the mortgage debt; the number and value of owned mortgaged homes and the amount of mortgage debt, together with the per cent distribution of each and the ratio of debt to value, classified according to value of home; and the number of such homes and amount of mortgage debt, with per cent distribution, classified according to the rates of interest paid on the debt. In 1900 and 1910 there was no census investigation as to indebtedness on homes not connected with farms and, therefore, comparative statistics are available only for 1890 and 1920.

The report, it will be noted, does not cover mortgages on homes located on farms, or farm homes. Statistics regarding farm mortgages are published in the regular census reports on agriculture and will form the subject matter of another monograph in this series. As regards the method of collecting the data, the two inquiries were entirely distinct, the information as to farm mortgages being obtained from the regular farm schedule filled out in connection with the decennial census of agriculture, while the information as to mortgages on homes other than farm homes was obtained through the census of population by the method described on the following page. A further reason for keeping the two classes of statistics distinct is found in the fact that there is obviously an essential difference between the mortgage on a dwelling house and the mortgage on a farm, the latter covering usually both farm land and dwelling and having, therefore, the dual character of a mortgage on a home and a mortgage on business . . .

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