About half of U.S. mortgages seen underwater by 2011

[flintlock]

http://news.yahoo.com/s/nm/20090805/...g_deutschebank

NEW YORK (Reuters) – The percentage of U.S. homeowners who owe more than their house is worth will nearly double to 48 percent in 2011 from 26 percent at the end of March, portending another blow to the housing market, Deutsche Bank said on Wednesday.

Could this really be true?:eek:

[nero3]

Re: About half of U.S. mortgages seen underwater by 2011

This is nonsense. Choppers will be dropping more money from helicopters to revive the economy long before it get there.

[D-Mack]

Re: About half of U.S. mortgages seen underwater by 2011

not bad ....

Seven markets in states with the fastest appreciation during the five-year housing boom -- including Fort Lauderdale and Miami, Florida; Merced and Modesto, California; and Las Vegas -- may find 90 percent of borrowers underwater, according to the report.

[CanuckinTX]

Re: About half of U.S. mortgages seen underwater by 2011

The gov't tried but they couldn't stop it forever. The underwater boom resumes again...

http://www.bloomberg.com/news/2011-0...llow-says.html

[don]

Re: About half of U.S. mortgages seen underwater by 2011

The gov't tried but they couldn't stop it forever. The underwater boom resumes again...

http://www.bloomberg.com/news/2011-0...llow-says.html

Gov interfered on 2 fronts: the so-called 1st buyer incentive bumped asking prices double the tax credit; and flooding the TBTF lenders with the means to extend their pretend RE portfolios. Did that prop up the housing bubble pricing out on the market? Except for tamping down the tsunami of foreclosure, which undoubtedly would have lowered $$ even further, the props have been kicked out from under the bubblicious pricing for some time. Not what they wanted but what was and is happening.