The Wall Street Journal article, Nearly 1 in 6 Homeowners ‘Under Water’, echoes my sentiments on the real estate crisis. Everybody is going to feel the pain but a few states are going to feel a lot more pain than others. There are nice statistics and graphs in this article. I recommend it.
Falling home prices have left nearly one in six owners owing more on a mortgage than the home is worth, raising the potential for more defaults.