Offline28.6 percent of homeowners in the third quarter are living with mortgages that are more than the home's value. That's up from 26.8 percent in the second quarter. This shows that the housing market is still going backwards and it explains why a lot of people can't move and buy new homes that are offered for sale by investors.
Read the whole MSNBC.com story here:
http://bottomline.msnbc.msn.com/_news/2011/11/08/8687925-nearly-29-of-mo...
__________________
Always Looking to Acquire Houses | Always Looking to Amaze Investors
That is really sad news....and the American Dream of homeownership goes down the drain...
... and the greedy banks get more properties on their already inmense inventory!
Valerie
Valerie
“And will you succeed? Yes indeed, yes indeed! Ninety-eight and three-quarters percent guaranteed!” ― Dr. Seuss
"I believe in angels, the kind that heaven sends; I am surrounded by angels, but I call them friends" - Unknown
My journal: http://www.deangraziosi.com/real-estate-forums/investing-journals/59110/...