[quote=Arraya]http://www.reuters.com/article/idUSTRE5745JP20090805
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.
[/quote]
Sorry, but this doesn’t pass the sniff test.
Seems to me I’ve read that about one third of homeowners do not have a mortgage.
If the 48% figure above is to be believed, then only 19% of homeowners would have a mortgage that was less than the house was worth! I don’t buy it.
