Total Outstanding Mortgage Debt Increased 18.9 Percent in Three Years

Here’s the hyper-financialization of mortgages in pictures. In just three years mortgage debt has soared despite plunging home sales. In 2000 Q1 total mortgage debt was $4.50 trillion. The top 1 percent had only $0.20 trillion. The top 10 percent had $0.88 trillion.