Did you know that Trulia has a Housing Misery Index? 

Wow, talk about a negative word! 

So what is a Housing Misery Index? 

Trulia created a program on their website called the Housing Misery Index. I am not going to link to it:). 

Florida has a score on the misery index of 62 while Nevada was given the score of 73. The higher the score the more miserable you are as a housing state. Really??? 

The Center for Housing Policy in Washington DC state that Miami/Dade, Broward and Palm Beach Counties have the nation’s highest burden of housing costs. That means that more of your money is going to pay your mortgage payments, insurance on your house, HOA fees and property taxes. This center is a non-profit organization. 

This organization reports that 43% of the working households spent more than half of their take home wages on housing. This figure comes from data gathered and concluded in 2010. That is 714,733 working households taken for that study. 

33% of Floridians out of the 2.5 Million working households used more than half of their income for housing expenses and only California topped that at 34%. 

They say that Florida tops this list for three years now. 

To get a housing misery index Trulia combines the percentage decline in home prices from the peak of the real estate boom to now and factors in the mortgages that are at least 90 days past due. 

While it is true that the underwater mortgages caused evaporation of equity almost overnight their housing misery index is not accurate. 

The data they are using is not the correct data to use. 

They are factoring in all those who are NOT paying their mortgages and then saying that is because they CAN NOT afford their house payment- that is just not true. 

There are many strategic defaults in Florida. There are many people who are saving those house payments to buy another house or a condo or to rent or to move or…. 

There are many people who are living in their properties on purpose without paying. A huge percentage of those in foreclosure have been living the last 2 to 4 years without making a house payment. To say they can not afford it is not reality in most cases in South Florida. 

They are also not taking into account local facts like the fact that there are working households who own their homes without mortgages on them. In South Florida about 60% of all home sales are cash purchases with no lender involved. A lot of these households are working households so it does not make sense how Trulia and the organization are analyzing the data. 

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