Tuesday, Aug 12, 2008
Pain across the pond.
Bloomberg: A third of new U.S. homeowners in negative equity
Almost one-third of U.S. homeowners who bought in the last five years now owe more on their mortgages than their properties are worth, according to Zillow.com
Second-quarter home prices fell 9.9 percent from a year earlier, giving 29 percent of owners negative equity, said Zillow, the Seattle-based service that offers values for more than 80 million homes. For those who bought at the 2006 peak of the housing market, 45 percent are now underwater, Zillow said.
Posted by little professor @ 06:04 PM (276 views) Add Comment
3 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. Eternal Sceptic said...
Hardly surprising we don't hear much about rising sea levels any more.
2. Eternal Sceptic said...
On a serious note, What happens over there, soon blows over to Britain, as the latest figures show. I suspect if the politicians had to suffer a fraction of the pain and dislocation of wrecked lives caused by the ongoing credit crisis and property deflation, they would begin to make serious efforts to establish some sort of emergency funding to keep repossessions to a minimum. Perhaps a utopian, idealistic view. But so far all we have had from politicians is sniping, postcards from Clacton, inertia and total inaction.
Is this the best the cream of the political parties can accomplish?
3. mytimeisnigh said...
Coming to a town near you soon!