From Bespoke:
Thursday, October 1, 2009
Year Over Year Change In Home Prices
This is stunning data. Almost half of Americans with mortgages are underwater at this point, which doesn't bode well for housing prices going forward. The number of mortgages that are 60 days delinquent is 11X more than the number that have started the foreclosure process, which means that there is potentially a tidal wave of homes that could be put on the market, sending prices further downward.
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