Reuters reports:
More than 30 percent of U.S.
homeowners who bought in the last two years owe more on their
mortgage than their house is currently worth, a housing market research company said on Tuesday.
The housing market peaked in most U.S. markets in the last
two years. Of home buyers in 2006, 39 percent of those with a
median 10 percent down payment now have negative home equity
similar to 30 percent of those who purchased in 2007, said
online company Zillow in its quarterly home value report.
Overall, only 3 percent of those who purchased in 2003, and
less than 1 percent of all homes in the United States
regardless of when they were purchased, have negative equity.
