Housing and Home Loans: A Survey Report

347 Words Feb 1st, 2018 1 Page
Another 14 lived in rural neighborhoods, and the remaining 15 were in suburban areas. Urban locations were the most prevalent and made up 42% of the results.
Home size
Only 10% of the people lived by themselves. 30% of those surveyed lived in households of two people. These are typically households with a spouse or a roommate and no children. The remaining 60% had 3 or more people per household.
Only 13 of those surveyed had lived in their current home for less than 10 years. 21 of them had lived there for between 10 to 15 years. The remaining 16 had lived there for 16 to 20 years. This indicates that few people have moved recently, but it also shows that none of them had lived in their home for over 20 years. This is interesting given that many home loans are bought with 30 year terms. This suggests that most of these people are renters or paying off mortgages.
Home size - Credit
The two variables with the highest correlation of .75 are home size to credit amount. This indicates that homes with more people are building up more credit at this department store. This could be caused by a combination of higher household expenses and less discretionary income. Smaller households may be able to keep their debt low even if they are making large purchases.
Income - years
Income compared to the years at the current location had in inverse correlation of -0.2. In other words, those with higher…