Percentage of investor home purchases at 17% in 2005 and 2006

I have always wondered what percentage of single family homes were aquired by investors.  I just heard fed Chairman Ben Bernanke say in a news briefing today that in the 1990’s non-owner occupied home loans were 5% of the total home loans.  In 2005 and 2006 — that number was 17%. 

Bernanke is talking about that national picture.  I am not sure how that number translates to our Austin Market.  If anyone knows what that percentage is — Please chime in!  I would imagine that we are about 10% or less in non-owner occupied loans. 

The problem is that investor loans come with more risk.  Borrowers are less likely to default on thier primary residence.  But on an investment property they are more likely to default.  When home prices fall below the loan value—  investors are more likely to default. 

Austin average sales prices were up 6.62% in February 2007 over February 2006.  The average sold price per sq. ft was up 4%.  So I dont think we are going to see the same foreclosure issues that the California and Florida are experiencing.