Negative Equity
Debating Negative Equity
January 24, 2011
When we look back on the current housing downturn a decade from now, we’ll remember many things: The foreclosures, the sinking home values, the consolidating households and the tough decisions many families had to make. But, more than in any other housing recession, one statistic will stick in our minds. Negative equity---the percentage of homeowners who owe more on their mortgage than their home is worth---is both the symptom of our housing excesses, and the disease that has kept the housing...
January 24, 2011
When we look back on the current housing downturn a decade from now, we’ll remember many things: The foreclosures, the sinking home values, the consolidating households and the tough decisions many families had to make. But, more than in any other housing recession, one statistic will stick in our minds. Negative equity---the percentage of homeowners who owe more on their mortgage than their home is worth---is both the symptom of our housing excesses, and the disease that has kept the housing...