Housing - Over 20% of U.S. homeowners are underwater on mortgages

Thursday, March 18, 2010




1.	This is a must read for housing bulls...

2.	White House considers banning home foreclosures

3.	New home sales plunge to lowest level in history




1.	"Atlas Shrugged" taxes blow up in Maryland’s face

2.	Possibly the greatest mining boom of the 21st century

3.	CNBC anchor breaks SACRED network rule

4.	Porter Stansberry: The only stocks new investors should buy

5.	It's official: China now dumping the dollar

Over 20% of U.S. homeowners are underwater on mortgages

Thursday, May 07, 2009
Text Size:

By Daily Crux Guest Editor Brett Owens:

The WSJ reports that an astounding 20% of U.S. homeowners owe more on their mortgages than their homes are worth.

Some cities are faring worse than others. Las Vegas takes the prize, with 67.2% of homes that are "upside down." Maybe the government can order the remaining 32.8% take what's left of their equity over to the roulette wheel at MGM - and do to their patriotic duty to help less fortunate homeowners and struggling casinos.

If you're scoring at home, perennial foreclosure powerhouse Stockton, CA placed a distance 2nd, with 51% homes underwater.

Read full article...

More real estate posts:

Housing prices may never recover

Real estate guru Zell predicts massive commercial foreclosures; few mortgages "above water"

"Astonishing;" housing starts worst since 1959

Topics:		Housing \| Real Estate

©2010 Stansberry & Associates Investment Research. All Rights Reserved. Protected by copyright laws of the United States and international treaties. This website may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the world wide web), in whole or in part, is strictly prohibited without the express written permission of Stansberry & Associates Investment Research, LLC. 1217 Saint Paul Street, Baltimore MD 21202.

Home | About Us | Archive | Partner | RSS