The scariest number for anyone invested in the real estate market is this: 23.2%. That’s the record-high share of mortgages that are now underwater, as estimated by Zillow. Negative equity is the prime factor driving a record number of mortgage holders into delinquency. Delinquencies will lead to foreclosures, which will drive down home prices, creating more negative equity — a very dangerous cycle. In some parts of America, a gob smacking percentage of homes are underwater. In Las Vegas, for instance, four out of five mortgages are now underwater.
The 20 cities with the most underwater homes
Most Popular Articles
Latest Articles
Coldwell Banker taps Payload for automated earnest money deposits
Coldwell Banker Realty is partnering with Payload to make earnest money deposit payments much easier for real estate agents and homebuyers.
-
California, New York have the nation’s most expensive ZIP codes
-
Fairway, accused of redlining in Alabama, agrees to settle for $1.9M
-
MISMO working group targets January for new reverse mortgage standards
-
Title Success enters the M&A matchmaking business
-
Tomo CEO Greg Schwartz talks market conditions, AI-driven loan production solutions
