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

[Patranus]

[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.

http://news.yahoo.com/s/nm/200...a_housing_deutschebank


Thread locked due to OP failing to include his own input.

Anandtrech Senior Moderator
Red Dawn

 

[Andrew1990]

So, wouldnt the money we gave to the banks been better off paying off these mortgages? I mean neither is good, but by paying off the houses, you nail two birds with one stone, correct?

 

[Brigandier]

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


Um, is this caused by mortgage warming?

 

[retrospooty]

Thats odd - that would indicate that prices will drop dramatically from now to 2011... In the real world they already bottomed out and are now on the way back up.

Lame ill thought out article.... Oh wait, its Patranus. nevermind.

 

[Patranus]

http://www.irvinehousingblog.c...age-reset-schedule.jpg

Ya. Sure. All these loans resetting wont be problematic.

 

[dmcowen674]

Originally posted by: Patranus

[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.

http://news.yahoo.com/s/nm/200...a_housing_deutschebank

No commentary from the OP?

I thought that was a No No?

Anyway how many people in here are OK with that?

This is Prime Mortgages, not the scum of the Earth lowlife mortgages sub prime shit that was blamed before.

How many in here will go underwater?

Mine has been underwater since the Real Estate Market started tanking and getting more underwater everyday.

Funny thing though, assessment continues to go up by the county along with taxes.

How does that work?

I'm sure many in here of the R persuasion are perfectly fine with all of this unless of course they are finally affected personally.

Any of you elite hit yet?