29% of Homeowners Have Larger Mortgage Than Home’s Value
From a Moody's Economy.com report it shows that 12 million households, or 16%, owe more than their homes are worth. Moody's chief economist, Mark Zandi, said: "it is very possible that there will ultimately be more homeowners under water in this period than (at) anytime in our history."
An estimate by real-estate Web site Zillow.com shows that among people who bought within the past five years, about 29% are under water on their mortgages. San Diego California real estate agents
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I TELL EVERY PERSON HERE NOW. SOCIALISM IS NOT THE ANSWER AND WILL RUIN THE AMERICAN DREAM. STOP THE CORP WELFARE PROGRAMS AND THE GENERAL WELFARE PROGRAMS ALL TOGETHER. The socialist politics in this country must be abolished. we need free markets, less regulation, no government guarantees , personal accountability in the free markets — let there be skin in the game for the risk takers…
weighloss specialist
It is in fact socialist nonsense such as everyone should own a home that caused the current problems that we have now. What you don’t understand is that socialist agendas are created by both leftist groups and right extreme idiots. Regardless socialism is socialism and causes financial distress at the end. Why is it that these people just don’t understand? The Obama and Clinton health care for all bullsh-t. Freddie Mac /Fannie Mae created a socialist vacuum that transferred risk from banks to tax payers and 401k holders. it is socialist removal of risk that causes bubbles in the first place. People need to know and understand that when they take a risk that they can lose. And that is that. You buy a house — then u got to make payments for 30 years. u miss a payment u lose your house and your credit. Therefore, that loan amount should be very in line with what you can afford. this is not rocket science. The banks are socialist, the government is socialist, u r a socialist, and anyone who tries to remove risk from the equation of reward is socialist too.
San Diego Vacation Coordinator
If things do get really tough (depression like) it will be interesting to see how the generation (X’ers) handle it. I hope that our economic situation doesn’t deteriorate that much but, in hind sight we are probably due for a reshuffling of the status quo…All this said, in a way I think tough times might be good for our nation, free market capitalism has been of limited success, in which the already prosperous for the most part have managed to increase that prosperity disproportionately in relation to the rest of our society. And the current wealth gap is clearly indicative proof of this. Hopefully, no matter what the course and consequences of our current economic situation our country and society will be made better by the challenges presented by it.
Skin Care Specialist
The FED will not cut interest rates again and again…
Bail Bond Officer
Clinton’s didn’t have anything to do with a balanced budget. We had $10 $15.00 oil and the Republican Congress lead by my man Newt Gingwich and his contract with America mandated a balanced budget. Clinton also raped the military budget. Don’t forget about their tech bubble that Al Boring invented.
SD clinical researcher
If you don’t vote, you may just be Standing in the soup line, instead of proposing just to see people in them. They already exist. Many will need to focus on making a go of it living below their means for a while; these Liars, Killers and Economy Destroyers need to answer to the People. This is a Democracy.
SD Eye Doctor