Although the percentage of underwater homeowners continues to heal, the remaining pain is left to struggling borrowers of low-price homes, according to an article in The Wall Street Journal:
About 28% of homes with a mortgage within the bottom third of home values were underwater at the end of the second quarter, meaning they were worth less than the balance of their mortgages, according to real-estate information service. That compares with about 16% of homeowners in the middle tier and 9.2% in the top tier.
As a result, the article explained that it could prevent owners from moving up to larger homes and thus put a damper on purchases by first-time homebuyers.
Overall, the percentage of homeowners who were underwater in the second quarter dropped to 17% from 24% a year ago.
Just back out of hospital in early March for home recovery. Therapist coming today.
Sales fell 5.9% from September and 28.4% from one year ago.
Housing starts decreased 4.2% to a seasonally adjusted annual rate of 1.43 million units in…
OneKey MLS reported a regional closed median sale price of $585,000, representing a 2.50% decrease…
The prices of building materials decreased 0.2% in October
Mortgage rates went from 7.37% yesterday to 6.67% as of this writing.
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