Tuesday, Nov 24, 2009

1 in 4 US mortgages in negative equity

DailyFinance: Nearly a quarter of all U.S. home mortgages are under water

There have been a number of attempts to come up with a figure about how many U.S. home mortgages are under water -- in other words, the value of the home loan is more than the value of the house.
All estimates are bound to be wrong because no one has had the time or money to appraise every house in America and match it with the value of its mortgage plus any second mortgages. But The Wall Street Journal has asked First American CoreLogic, a real estate research company, to give it a try. The report, which is available free online, says that that 23% of mortgages were under water at the end of the third quarter.

Posted by mountain goat @ 11:28 PM (1005 views)
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1. techieman said...

sorry MG - off topic per our discussion last weekend. I alluded to the seasonals. Although this is not 100% accurate (what is?) it adds to the probability that the downmove might not have started .... yet. An of course its in a generally bull period too.


Wednesday, November 25, 2009 08:05AM Report Comment

2. mountain goat said...

Thanks for getting back to me TM. Interesting to see $ making new low today (for the year).

Wednesday, November 25, 2009 12:16PM Report Comment

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