Wednesday, February 9, 2011

When the house bubble bursts

Home-Price Drop Leaves 27% of U.S. Owners Underwater on Loans

"The number of U.S. homes worth less than their outstanding mortgage jumped in the fourth quarter as prices fell and lenders seized fewer properties from delinquent borrowers, according to Zillow Inc. About 15.7 million homeowners had negative equity, at the end of the year, up from 13.9 million in the previous three months, the Seattle-based real estate information company said in a report".

Posted by alan @ 10:23 AM (1002 views)
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2 thoughts on “When the house bubble bursts

  • Is that the maintenance guys oiling up The Bernank’s printing press ??

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  • if they own their own home it is not possible to be underwater. A more accurate headline would be “Home-Price Drop Leaves 27% of U.S. purchasers Underwater on Loans”

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