In 2012, the United States racked up a federal deficit of $1.1 trillion, according to the New York Times. This number can be difficult to understand. In fact, most people have a hard time comprehending large amounts of money because they are outside their common experiences. Still, there are ways to explain $1.1 trillion in more manageable terms.
Below is a breakdown of the county's 2012 federal deficit in easily digestible time frames, and what types of real estate transactions the country could have undertaken in the span of those time frames. In other words, this is the breakdown of the federal deficit in relation to real estate.
To break down the federal deficit, I divided the given time frame (second, minutes, hour, etc.) by $1.1 trillion. For example, I divided $1.1 trillion by the number of weeks in a year. This means each week the federal deficit increased by $21,153,846,154.
Federal Deficit in Real Estate Transactions
- 1 Year: In one year you could buy almost three out of four owner-occupied homes in Texas
Real Estate Transactions Broken Down
- 1 Year: At the end of 365 days you could have purchased 73 percent of Texas's owner-occupied homes, or nearly three out of four homes. There are 5,431,000 owner-occupied homes in Texas, which have an average list price of $278,280.